Switzerland

MET Group, the originally Hungarian, now Swiss-based energy trading, generation and distribution company, has agreed an €885m revolving credit facility. It has more than doubled the amount of bank debt it has available in the past three years.

Korea Western Power (Kowepo) chose an appropriate week to launch the first ever green bond in Swiss francs from an emerging market issuer – and not just because sustainability was high on the agenda at Davos. The deal also came in a week in which representatives from the IFC and the Swiss Secretariat for Economic Affairs (SECO) met in Bern to discuss the results of a consultation on impact investing among more than 100 members of the Association of Swiss Sustainable Finance (SSF).

Swiss speciality chemicals company Sika attracted more than Sfr6bn of demand on Tuesday evening for a mandatory convertible bond issue to finance its Sfr2.5bn acquisition of Parex, the French building materials company, from CVC Capital Partners.

Maintaining confidence in the system relies on trust that leaders — those selected for their competence and character to set the course for the rest of us — are well informed, able to communicate with others at their level and take decisions that serve the interests of those they lead.

Better late than never. After a sluggish start to the year, international activity in the Swiss franc market finally began in mid-week when Westpac priced the first Australian covered bond in Swissies since a Sfr200m National Australia Bank (NAB) trade in January 2014.

Barry Callebaut, the chocolate company headquartered in Switzerland, has launched a triple tranche Schuldschein a month after a roadshow for a sustainable bond failed to produce a public market result.

As central banks retreat from public markets, spreads are widening in dollars and euros, and cross-currency basis swaps are improving for international borrowers, Swiss bankers believe the good times might be returning to a market once known the world over for diversification and arbitrage.

Goldman Sachs International conducted business with Lars Windhorst, the colourful German financier, despite warnings from its compliance department that he was a high risk counterparty.

Santhera Pharmaceuticals, the Swiss speciality pharmaceuticals company, has launched a Sfr77m fundraising following the release of its latest earnings statement on Wednesday morning.

Shares in Cosmo Pharmaceuticals, the Swiss-listed maker of gastro-intestinal drugs, plummeted by 16% on Thursday after it had launched a €175m convertible bond on Wednesday evening, after market close.

Zur Rose, the Swiss online pharmacy, has completed its Sfr200m ($200.8m) at-market rights issue to fund the acquisition of a German e-commerce platform, following the sale of a rump placement on Wednesday evening.

The International Swaps and Derivatives Association on Tuesday said the derivatives industry seemed to have broadly agreed on a method of calculating replacement rates, known as fallback rates, for interbank offered rates (Ibors), in case those rates stop being calculated.