Roche ‘deal of the year’ dazzles Swiss market

24 Feb 2012

A jumbo Sfr1.5bn triple trancher from domestic pharmaceutical giant Roche dominated the Swiss franc bond market this week, attracting Sfr2.5bn of orders from across the currency’s investor base and drawing immediate accolades. "This is the deal of the week and the deal of the year. It’s a trade everyone was involved in," said a banker away from the offering.

"Investors would have bought this at almost any price," added a Zurich banker.

Besides its undisputed name recognition, a range of maturities to access different areas of demand and ratings of A1 (Moody’s) and AA- (Fitch), Roche offered significant rarity value. The company last tapped its domestic market back ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial