Switzerland
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Mercuria, the Swiss energy and commodity trader, has launched its annual loan refinancing, and commitments are due May 16, according to a banker on the deal. -
The European Central Bank’s (ECB) decision to include insurance companies in its Corporate Sector Purchase Programme (CSPP), helped JP Morgan’s Sfr200m bond on Friday, allowing undersupplied Swiss investors a chance to buy.
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A 10 year deal from JP Morgan on Friday showed US banks are finding more opportunities for Swiss franc funding than their European peers.
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The first block trade in OVS, the Italian fashion retailer, came on Tuesday evening, as Gruppo Coin, the BC Partners-backed retail group that owns it, sold €129m of stock. The trade was not covered.
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Swiss franc corporate bond issues from international borrowers have declined in the last month as foreign companies have taken advantage of more stable conditions in the euro and dollar markets, according to syndicate bankers in Switzerland.
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The IPO of VAT Vakuumventile, the first substantial Swiss listing for a year, was “very oversubscribed”, a banker on it said, and was priced at Sfr45 a share, close to the top of the range.
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Credit Suisse launched a three-tranche holdco senior deal worth $4.5bn on Wednesday, taking advantage of the US market’s slimmer premiums and deeper liquidity.
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Vitol-KazMunaiGas has received more than $3.5bn in commitments from lenders for its prepayment facility loan.
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Credit Suisse sold its first benchmark euro senior unsecured bonds of the year this week, returning with a pure operating company version of a dual tranche deal it was forced to cut in half in June last year.
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Mercuria, the Swiss energy and commodity trader, is set to launch its annual European refinancing loan next week, according to a banker familiar with the deal.
