Switzerland

UBS tapped the Tokyo Pro-Bond market this week to raise ¥150bn ($1.33bn) of funding for its total loss absorbing capacity, at a time of little volume in the FIG euro market.

Stock in CEVA Logistics, the Swiss freight management company rose by more than 30% after shareholder CMA-CGM, the French shipping company, launched a full takeover bid of the company.

Switzerland’s Gunvor has signed a $745m green loan, with the commodities trading company saying it is the first of its kind for the sector.

Zurich Insurance Company pulled off a long-dated bond deal on Wednesday, offering a limited new issue premium from the start for its first euro-denominated senior trade in four years.

Zur Rose, the Swiss online pharmacy that went public last year, plans to raise Sfr200m via a rights issue to fund its takeover of the e-commerce operations of Medpex, a competitor in Germany.

The first two major IPOs of the autumn, Funding Circle and SIG Combibloc, have both stayed above water in trading.

SIG Combibloc, the Swiss food and beverage packaging company, has closed the books on its return to the Swiss stock exchange after more than a decade of being a private company.

Revised price ranges have been set on the flotations of Funding Circle and SIG Combibloc as investors continue to support the crop of new European listings coming to market.

Sulzer, the Swiss maker of industrial machinery, has made a Sfr15m ($15.5m) profit on a block of shares it acquired in April from its former majority owner, Renova Group, to escape economic sanctions imposed on Russian companies and individuals by the US Treasury’s OFAC.

Sulzer, the Swiss maker of industrial machinery, is in the blocks market tonight with a Sfr608m sale of its own treasury shares that it acquired from its former majority shareholder, the sanctioned Russian conglomerate Renova, in April.

SIG Combibloc, the Swiss food and beverage packaging company, began IPO bookbuilding this week in a deal that will return it to the Swiss SIX exchange, more than 10 years after it was taken private.

Swiss flavours and fragrance manufacturer Givaudan is a regular user of the Swiss franc corporate bond market, but sold its first euro deal this week to help refinance the funding of its €1.25bn acquisition of French natural ingredients supplier Naturex.