Switzerland

UBS announced that it has received the consent of investors to change the maturity terms of its covered bonds from hard to soft bullet.

Amid rough going for new IPOs this week, one of this year’s star IPO performers, Maisons du Monde, was back in the market on Wednesday night as the global coordinators waived the lock-up to let the leading shareholders make their first block trade in the stock. Thursday brought a substantial trade in Ferrexpo, which owns iron mines in Ukraine, which got done, though at a slightly reduced size.

A banker at one of Ecom Agroindustrial's new lenders, Raiffeisen Bank International, said that the bank was following a strategy to build new relationships with soft commodity firms in joining the Ecom deal.

The Canton of Geneva has offered a 40 year bond to the Swiss market, the longest public sector, non-government bond ever in the Swiss market.

Ecom Agroindustrial, the Switzerland based commodities trader, has concluded the refinancing of a $635m one year loan, drawing in six new banks.

A diverse group of issuers forged ahead with their respective fundraisings on Thursday, seeking everything from dollars to Singapore dollars and green debt.

Swiss food and drinks company Nestle is in talks with banks to refinance about €12bn in one and five year credit facilities.

The International Monetary Fund (IMF) advised the Swiss National Bank (SNB) to adjust its policies away from foreign currency interventions and towards even deeper negative interest rates on Monday.

UBS is seeking the agreement of investors to change the maturity structure of two hard bullet covered bonds to soft bullets with a 12 month extension.

Pfandbriefbank Schweizerischer Hypothekarinstitute placed on Tuesday a dual tranche deal in Swiss francs. The shorter tranche was fashioned into a 12 year clip to entice investors looking for positive yield.

UBS is seeking the agreement of investors to change the maturity structure of two hard bullet covered bonds to soft bullets with a 12 month extension.

CME Group rolled out a suite of weekly expiring, S&P index-based options on futures this week, while European rival exchange Eurex introduced trading of weekly expiring equity option contracts onto its exchange that reference SMI, Switzerland’s blue chip stock market index.