Switzerland
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Safe haven status draws offshore names to Swiss francs -
◆ Three companies bring no-grow €500m trades ◆ All deals got ample demand ◆ More supply lines up as the market reopens
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Company’s new facility was described as ‘substantially oversubscribed’ and structured as a club deal as it adds contingent liquidity loan for $3bn
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Deal has two tranches, company last came to market in 2024
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Quick insurance trade lands close to fair value, through equivalent dollar levels
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Swiss power company issues only five and seven year floaters
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Attractive spreads available as Air Liquide lines up Swiss franc debut
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◆ First Swissie corporate bond since Alphabet's finds size ◆ Dual tranche trade lands tight ◆ Domestic corporate undersupply helps demand
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◆ Issuers opt for extra guidance as market softens ◆ Enexis takes size at six years ◆ DSM-Firmenich lands tight
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European Investment Bank brings most duration
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Bankers say deals are still being launched and believe international rivalry can be negotiated
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◆ Mixed elements of senior, covered, SSA bonds ◆ Book peaked at more than €2bn ◆ Several deals paused amid macro worries
