Domestic institutions pile in to Swiss Life, UniCredit amid hunger for yield

04 Oct 2012

Swiss investors showed an appetite for yield this week, buying their second chunk of senior paper from UniCredit in a month, and piling in to a perpetual from local favourite Swiss Life.

The first issue was a Sfr300m ($300m) perpetual hybrid from Swiss Life on October 1. It carries a 5.5% coupon, which translates to 509.1bp over mid-swaps. The first call date is August 2018, after which the coupon will reset to the five year Swiss franc swap rate plus ...

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