Switzerland
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UBS successfully completed a cash tender offer for Sfr6.1bn ($6.12bn) of its securities on Thursday, including one covered bond, as the group looks to further strengthen its capital base.
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UBS successfully completed a cash tender offer for Sfr6.1bn ($6.12bn) of its securities on Thursday, as the group looks to further strength its capital base. -
Dentsply International, the US dental equipment maker has printed a dual tranche private placement Swiss franc note on Tuesday, as a part of its private placement funding programme.
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Pfandbriefbank, the Swiss mortgage lender, printed a dual tranche covered bond on Friday, drawing strong demand from local insurance companies and pension funds for the longer tranche of the deal.
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The equity-linked market in Europe has been quiet since Total SA’s $1.2bn deal on November 25, but on Wednesday a very different deal was executed successfully by Basilea Pharmaceutica, a small and still unprofitable Swiss drug company.
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The Central American Bank for Economic Integration (Cabei) sold its second Swiss franc deal for the year on Monday, drawing demand from Swiss asset managers.
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UBS has announced a tender offer for a number of deals including one dollar denominated covered bond. The announcement comes in response to an earlier pledge to build up its Total Loss Absorbing Capacity (TLAC), which should be credit positive for its covered bonds, even though the programme is being wound down.
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Crédit Agricole braved the markets on Friday to price its third transaction in Swiss francs this year.
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Nestlé made a grab for sterling on Tuesday, issuing a five year benchmark bond that brought in orders from outside the UK.
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US medical manufacturer Danaher priced a Sfr750m ($733.92m) triple tranche Swiss franc bond on Tuesday, the fourth largest corporate issuance in the currency this year.
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The Canton of Aargau launched a dual tranche deal on Thursday, its first bond since 2010, with one leg carrying a negative yield.
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The US medical manufacturer has priced a Sfr750m ($733.92m) triple-tranche Swiss franc bond on Tuesday, making it the fourth largest corporate issuance in the currency this year.
