Swiss Francs

Santander effectively opened the Swiss market for senior non-preferred notes on Tuesday. The Spanish bank debut offer attracted Sfr400m ($411.4m) worth of interest –– encouraging for a market looking for future TLAC issuance.

The Swiss franc bond market saw its first Matterhorn –– a foreign deal of Sfr1bn ($1.02bn) or more — of the year on Wednesday, and the first from a BBB issuer, as Verizon Communication raised Sfr1bn with its debut. It was a sign that Switzerland has once again become an attractive destination for international borrowers, writes Silas Brown.

Verizon Communications will meet Swiss investors on Tuesday afternoon to discuss an inaugural Swiss franc bond.

Korea Expressway Corp broke South Korean issuers’ silence in the Swiss market on Wednesday. As rates stabilise for Swiss investors, and basis swaps improve for foreign issuers, Zurich bankers hope this deal reignites more bonds from the Asian country.

Citigroup returned to the Swiss franc bond market after a 10 year absence, navigating through a "perfect storm", after Emmanuel Macron’s election as president of France, to price a bond in line with its dollar funding curve.

Flughafen Zurich, the company responsible for operating Zurich airport, offered Swiss franc bond investors a 12 year note on Monday as the market soared on Emmanuel Macron’s ascendance to the French presidency.

Hiag Immobilien, the Swiss property developer, reopened the Swiss franc bond market on Wednesday after three weeks without a new issue. Low levels of issuance have allowed Swiss property firms an easy ride in bond markets in 2017.

Kommunalkredit has invited noteholders to tender a trio of Swiss franc covered bonds.

Hiag Immobilien, the Swiss property developer, reopened the Swiss franc bond market on Wednesday after three weeks without a new issue. The market's drought has allowed Swiss property firms an easy ride in bond markets in 2017.

Basis swap levels, which have deprived Swiss bond investors of international corporate supply for much of the last year have improved sharply. But issuers are still keeping away with wider spreads to blame.

Swiss Prime Site, LGT Bank and the City of Zurich took advantage of a quiet market, placing Swiss franc bonds with domestic investors before Easter holidays.

Order books were open for all of 10 minutes as the City of Zurich benefited from a scarcity of municipal activity to find Sfr100m ($99.5m) in a 20 year no-grow deal.