Poland conquers Swissie market with biggest deal of the year

17 Apr 2012

Poland swept through the Swiss franc market on Tuesday with the largest deal so far this year in the currency — a Sfr825m ($897m) double tranche note which was launched at just Sfr450m.

The size Poland achieved is impressive in a market where Sfr250m trades are considered benchmark transactions, and it will amply cover the Sfr725m redemption the issuer wanted to refinance that falls due in mid-May.

Tuesday’s bond fell only Sfr25m short of ABB’s two-trancher that was priced in September ...

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