BNPP brings covered back to Switzerland as banks, agencies issue at tighter spreads

BNP Paribas sold a Sfr275m five year covered bond on Monday, the first public mortgage backed covered bond in Swiss francs since September and the largest in over a year.

It was priced at 75bp over mid-swaps, the tight end of 75bp-80bp guidance.

"The response to BNP Paribas’s first quarter ...