Swiss Francs
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Swiss investors retain appetite for credit as yields become more attractive
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OTP plans first Swissie issue from a Hungarian bank for 16 years
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Heavy domestic supply from banks and corporates also meets strong demand
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Foreign banks keep Swiss market busy as issuance slows
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Chubb leads another busy week for foreign borrowers as domestic names also keep supply flowing
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National Grid, NatWest and Roche lead a broad mix of issuers this week
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Bankers expect more currency diversification but the biggest wave of isusance may still be to come
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◆ UK utility follows Canadian dollar deal with Swiss debut ◆ Deal offers savings versus euros ◆ Investor limits leave no room for further tightening
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Bankers expect some supply next week before a proper reopening beginning August 24
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Driving pricing lower was the small size and the green label
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◆ Pharma company prints 5.3, 10 and 15 year bonds ◆ Biggest domestic corporate deal in Swiss francs this year ◆ Roche pushes pricing and size in shorter tranches
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September redemption cash and shortage of supply support investor demand