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.
- +44 (0) 20 7542 7348
Barclays plc reopened the Swiss market for British banks after six years on Thursday with a debut UK bank senior holdco benchmark.
A brace of SNB repo eligible European corporate deals popped up in the week, spearheaded by Deutsche Bahn Finance, guaranteed by Deutsche Bahn AG, rated Aa1/AA-, which on Tuesday priced a SFr400m 10-year at mid-swaps plus 4bp via Credit Suisse and Deutsche Bank. Guidance was plus 5bp area.
Sunrise Communications Group, the Swiss telecoms company rated BBB- by both S&P and Fitch, opened the Swiss franc week with a SFr200m six-year senior secured issue via leads Bank Vontobel and ZKB.