Swiss Francs
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Despite paying a chunky new issue premium, Deutsche Bahn was still able to score some attractive arbitrage with its latest Swiss franc deal this week, and with favourable pricing on offer for foreign names, bankers are confident more could follow. -
Damien Aellen has been promoted to co-head of Credit Suisse’s Swiss franc bond syndicate desk.
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Switzerland's cantonal banks enjoyed an open window this week thanks to Pfandbriefzentrale's extended stint away from the market. Elsewhere, the Canton of Zurich was able to harness the lack of sub-sovereign supply to land at an aggressive level versus govvies.
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Russian Railways ventured into the Swiss franc market this week to sell the first hybrid corporate bond in over two years, a sign of a maturing Swissie market, according to local market participants.
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Verizon Communications, the US telecoms group, embarked on an almost $3bn niche currency bond issuing spree this week, which included the largest foreign Swiss franc bond since early 2018.
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A flurry of Swiss franc issuance dusted the market this week, as domestic and foreign borrowers entered a more settled market.
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Grid operator Transpower New Zealand returned to the Swissie market this week, landing through its outstanding curve while offering a small premium over Swissgrid.
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The rally in Swiss fixed income over the last year allowed Geneva Airport to price a new 10 year deal this week 70bp tighter than where it printed a three year deal last April.
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A pair of triple-A rated European agencies sold their first Swiss franc bonds for several years this week, responding to reverse enquiry for long dated, high rated paper.
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KommuneKredit dropped into the Swiss franc market on Tuesday to make its first appearance in the currency since June 2015.
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Fonplata, the South American supranational development bank, raised Sfr200m of 5.5-year bonds in the Swiss franc market on Wednesday, increasing the size of the deal from an initially planned Sfr150m. Alongside this, a clutch of domestic borrowers also tapped the market this week.
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Fonplata, the South American supranational development bank, raised Sfr200m ($222m) of 5.5-year bonds in the Swiss franc market on Wednesday, increasing the size of the deal from an initially planned Sfr150m.
