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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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.
Argentina returned to the Swiss franc market last Thursday after an absence of nearly two decades, although the sovereign’s lowly ratings and chequered history meant the deal was an acquired taste for investors.
In a year where negative rates deepened further, forcing out ever more regular issuers, one bank stood out as a pioneer of the new thinking required to survive in the changed markets of 2016. For its leadership and conviction, and for pushing the boundaries of what was possible, Credit Suisse is IFR’s Swiss Franc Bond House of the Year.