Supra scarcity boosts Eurofima Swissie
Eurofima returned to the Swiss franc market after a five year absence this week, hitting its size cap despite aggressive pricing. A lack of supply from other agencies helped drive demand for the deal.
Credit Suisse and Zürcher Kantonalbank priced the Sfr280m ($312.7m) 0.625% seven year bonds at 5bp through mid-swaps, in line with guidance of minus 5bp area.
The leads circulated initial price thoughts of 4.5bp area through swaps on Monday afternoon. The size was capped by the issuer.Syndicate bankers ...