BPCE and Cred Ag sell sevens in Swiss francs

By Nathan Collins
03 Apr 2014

French financials BPCE and Crédit Agricole took to the Swiss franc market this week to sell new seven year deals. Both trades were able to grow well beyond minimum targets, highlighting the strength of demand from Swiss investors for strongly rated banks remains high.

Sole lead UBS priced the Sfr175m ($197.8m) seven year bond at 65bp over mid-swaps, in line with guidance of 65bp area. The deal was increased from a minimum size of Sfr100m in light of the strong demand.

BPCE last sold public Swiss franc debt in November 2010, a ...

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