BNZ revitalises Swissie senior unsecured scene

24 May 2012

BNZ International Funding revived Swiss franc senior unsecured issuance this week when it priced a Sfr200m 1.5% 5.6 year note on Wednesday. But with domestic investors still wary of FIG risk, especially from Europe, the spectrum of senior unsecured borrowers able to tap the Swiss franc market remains limited.

Swiss buyers have only recently welcomed financials back into the market after shunning the asset class late last year because of the worsening Eurozone sovereign debt crisis. Covered bond supply has dominated the Swiss franc FIG sector so far this year, while only top rated banks were able ...

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