Kanton Zurich

  • 01 Apr 2004
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Rating: AAA
Amount: Sfr500m
Maturity: April 22, 2014
Issue price: 100.35
Coupon: 2.625%
Launched: Tuesday March 30
Joint books: Credit Suisse First Boston, UBS, Zürcher Kantonalbank

Bookrunners' comments:

CSFB ? We launched the deal on Tuesday after sounding out the market on Monday. At first investors were slightly subdued, but by Tuesday they had a more positive outlook and we were able to offer an attractive issue.

With three joint leads the transaction is under good control and we are all motivated to make it a success. From our point of view, we are done on the trade.

UBS ? This is another bond at the long end following the trend for long dated issuance.

We found that demand was almost exclusively institutional and was in proportion to the size of the deal, which also reflected the amount of interest we received.

We priced the deal at mid-swaps minus 9bp.

ZKB ? We were joint books on the transaction and found great demand at a level of mid-swaps minus 9bp.

This was a nice level which investors were happy with.

  • 01 Apr 2004

All International Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 92.59 388 8.96%
2 Citi 85.30 278 8.25%
3 BofA Securities 63.15 265 6.11%
4 Barclays 58.01 223 5.61%
5 Deutsche Bank 55.74 184 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 60.87 123 14.06%
2 Credit Agricole CIB 28.59 93 6.60%
3 Santander 25.41 90 5.87%
4 JPMorgan 23.88 61 5.52%
5 UniCredit 21.51 103 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 2.07 11 10.42%
2 BofA Securities 1.40 6 7.01%
3 Citi 1.37 7 6.87%
4 Morgan Stanley 1.36 6 6.85%
5 JPMorgan 1.31 7 6.59%