Switzerland
-
-
A $12.7bn jumbo Asia-focussed loan to back China National Chemical Corp’s acquisition of Syngenta is “pretty much done”, with several lenders that joined the preceding European syndication reappearing, according to a source close to the situation. -
Credit Suisse launched its second opco level euro senior unsecured deal of the year on Tuesday, and appeared to suffer little ill effect from a Fitch downgrade last week.
-
Anglo-Swiss commodity trading and mining company Glencore received a strong oversubscription level for its latest $7.7bn one year loan, but as a strong credit with plenty of ancillary business, the success is no surprise, according to one banker on the deal.
-
Swiss chocolate manufacturer Barry Callebaut was on Tuesday five times subscribed on a bond offering after testing European investors’ palates during a five day roadshow.
-
Credit Suisse booked its second straight quarterly loss, but beat investor expectations with a win in its wealth management units — the centrepiece of the bank’s turnaround strategy.
-
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.
-
A 10 year deal from JP Morgan on Friday showed US banks are finding more opportunities for Swiss franc funding than their European peers.
-
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.
-
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.
-
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.
