Corp Bonds - Swiss franc

A director of UBS' Swiss franc syndicate is leaving the desk and the financial sector on Monday, to pursue a career at a technology start up.

Gazprom made its sixth appearance in the Swiss franc bond market on Wednesday, but for only the first time as an investment grade credit after S&P upgraded its rating. Institutional investors, which only buy bonds that are eligible for the Swiss Bond Index, piled into the transaction, pushing pricing down and the size up.

Grand City Properties, the German residential property firm, printed eight and a half year Swiss franc bonds on Wednesday, and also sold a new nine year in euros on Monday alongside a tender for some outstanding bonds and convertibles.

Grand City Properties, the German residential property firm, printed eight and a half year bonds on Wednesday, in the second foreign real estate deal in Swissies since 2013.

AMAG Leasing, the Swiss vehicle lessor, priced two new Swiss franc bonds this week. A Sfr150m (€129m) five year transaction on Monday was followed by a Sfr100m two year on Friday.

Crédito Real, a Mexican consumer finance company, is set to debut in the Swiss franc bond market in the coming weeks.

German property firm Aroundtown became the first issuer from its sector to raise Swiss franc debt not driven by reverse enquiry.

PSP Swiss Property, rated A- by Fitch, tapped its April 2026 Swiss franc bond last Friday, opening the market for corporate issuance in 2018. The deal doubled the bond's size to Sfr200m ($204.93m).

Swiss property investor Allreal Holding sold an eight and a half year bond to investors drawn in by the spread.

Swiss franc bond investors have the opportunity to buy paper with a longer maturity on Wednesday, as telecoms company Swisscom launched a Sfr150m 16 year trade, but bankers say that despite the positive reception to the deal, longer dated primary issuance in the currency will remain rare.

Deutsche Bahn returned to the market after a two year absence with the longest dated Swiss franc bond from a German corporate. Swap costs have made it tricky for Deutsche Bahn to borrow in the Swiss currency. But the lead managers found a window at 13 years for the issuer to exploit.

Unrated jewellery company Folli Follie debuted in the Swiss franc bond market on Wednesday, having failed in a previous attempt — a sign that retail buyers are becoming more receptive, market participants said.