Jon Penner is a senior reporter/analyst on IFR Markets for live Eurobond issuance and secondary market commentary, also covering regional and Swiss Franc issuance for IFR magazine. He has spent almost 20 years in the markets in the back office, as a broker, a salesman and a trader before settling into writing about it. He joined IFR in 2006 and is based in London.
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Jackson National Life returned to the Swiss market after a decade’s absence on Tuesday, taking advantage of the improving basis swap to bring a new FA-backed deal.
It was obviously going to take a special case to bring an AT1 in the aftermath of Banco Popular’s spectacular collapse on June 7 and the concomitant wipeout of its subordinated debt holders.
Verizon received a warm welcome for an inaugural Swiss franc deal on Wednesday, taking advantage of a benign market atmosphere to launch a SFr1bn dual-tranche issue.