Swiss Francs

Grand City Properties, the German residential property firm, printed eight and a half year Swiss franc bonds on Wednesday, and also sold a new nine year in euros on Monday alongside a tender for some outstanding bonds and convertibles.

Grand City Properties, the German residential property firm, printed eight and a half year bonds on Wednesday, in the second foreign real estate deal in Swissies since 2013.

Gazprom is looking to enter the Swiss franc market for the fifth time, mandating four banks to arrange meetings for a benchmark bond. After Moody’s upgraded the Russian company to investment grade, the arrangers are particularly confident of Swiss interest.

National Australia Bank (NAB) and Société Générale issued Swiss franc bonds on Wednesday with tight pricing, in a sign that the market is luring financial borrowers to print opportunistically.

Mediobanca is selling five year senior preferred Swiss franc bonds, one day after National Australia Bank (NAB) and Société Générale raised funding in the market. Cross-currency basis swaps are improving for foreign issuers in Swiss francs, and interest rates are rising — which means there a more windows for banks to place opportunistic bonds.

National Australia Bank (NAB) and Société Générale both entered the Swiss market on Wednesday with tight pricing, in a sign that the market is luring financial borrowers to print opportunistically in Swiss francs.

The Export-Import Bank of Korea (Kexim) printed in Swiss francs on Monday. That was a sign, said bankers in Zurich, that the market is more resilient than others in times of broader volatility, and could welcome more emerging market names in the coming months.

AMAG Leasing, the Swiss vehicle lessor, priced two new Swiss franc bonds this week. A Sfr150m (€129m) five year transaction on Monday was followed by a Sfr100m two year on Friday.

Qatar National Bank has added to a busy run of funding with a $1bn two year private placement that it sold to a single investor, according to sources. The region's banks have tapped the Islamic and Taiwanese markets and issued in Aussie dollars.

ANZ New Zealand issued debt in the middle part of the maturity curve this week, as rising rates in the Swiss franc market made deals with this sort of tenor more attractive to issuers.

Swiss investors have welcomed the Central American Bank for Economic Integration (Cabei) back after a year-long absence. The borrower decided to raise bonds in Swiss francs after a steady rise in Swiss interest rates through January.

Westpac raised Swiss franc bonds on Monday, reaffirming the idea that financial institutions are best placed to act opportunistically in the Swiss market this year.