Switzerland

Pfandbriefzentrale der schweizerischen Kantonalbanken yesterday (Wednesday) issued the first Swiss Pfandbrief deal to be priced through mid-swaps this year.

Compagnie de Financement Foncier tapped a Sfr500m March 2013 deal for Sfr250m at plus 90bp via Basler Kantonalbank and Zürcher Kantonalbank on Wednesday, taking the issue to Sfr750m (Eu496m).

Pfandbriefbank schweizerischer Hypothekarinstitute priced two deals yesterday (Tuesday), with the exercise marking something of a return to business as usual after the institution’s recent financing arrangement for Switzerland’s two big banks.

Pfandbriefbank schweizerischer Hypothekarinstitute is preparing to execute a series of private placements. Instead of the usual investor base, the investors will be Swiss banks, mainly the cantonal banks, which will bid for them.

The Swiss government has approved an amendment to the regulations governing the country’s two Pfandbrief institutions that broadens the definition of eligible capital, thereby allowing them to issue more Pfandbriefe and boost liquidity in the interbank market.

Pfandbriefbank Schweizerischer Hypothekarinstitute increased a 2.75% October 2020 bond by Sfr281m on Friday, taking the total to Sfr650m, via Credit Suisse.

Pfandbriefzentrale Schweizerischen Kantonalbanken priced a dual tranche bond this (Wednesday) morning in the five and 10 year tenors.

Pfandbriefbank Schweizerischer Hypothekarinstitute increased its 3.375% October 2022 bond by Sfr290m on Friday afternoon.

Pfandbriefbank Schweizerischer Hypothekarinstitute is tapping two bonds via Credit Suisse this (Friday) afternoon. The first will be its August 2012 at 15bp over mid-swaps and the second its October 2022 at 25bp over.

UBS is raising a loan secured against a pool of its mortgages from Pfandbriefbank Schweizerischer Hypothekarinstitute, which is funding the loan by selling mortgage bonds backed by the collateral to a group of Swiss financial institutions.

Pfandbriefzentrale der schweizerischen Kantonalbanken issued a Sfr450m dual tranche transaction this (Wednesday) morning. The first tranche was a Sfr235m three year bond at 4bp over mid-swaps, the second a Sfr215 seven year priced at 9bp over.

In brief: Pfandbriefzentrale Schweizerischer Hypothekarinstitute raised Sfr310m through a dual tranche deal on Tuesday.