BNP Paribas serves up Swissie return

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By Frank Jackman
25 Feb 2021

BNP Paribas returned to the Swiss franc market to land a new senior non-preferred issue slightly inside its euro curve this week. In recent weeks, several foreign borrowers have tapped the market and, with tightening levels looking attractive, bankers are confident more could follow.

The French issuer appointed its own investment bank to run the senior non-preferred trade, with Credit Suisse and Zürcher Kantonalbank as co-managers.

The leads started pricing just after 9.30am (CET) on Wednesday, with initial thoughts in the mid-swaps plus 68bp area.

“We received plenty of positive feedback ...

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