Rehabilitated Oerlikon appeals to Swiss
OC Oerlikon, the Swiss high tech manufacturing company, issued its second ever bond on Tuesday. Investors flocked to buy the five and 10 year paper, reaffirming the issuer’s credentials after a difficult period following the financial crisis.
Credit Suisse, Deutsche Bank, Royal Bank of Scotland and UBS priced a Sfr300m ($335m) five year tranche at 93bp over mid-swaps, the tight end of guidance of 95bp area.
The Sfr150m 10 year tranche was priced at 150bp over, in line with guidance of 150bp area.The five ...