Switzerland

Credit Suisse gave investors an opportunity to buy new additional tier one (AT1) paper in the dollar market on Wednesday, shortly after receiving a credit ratings upgrade from Moody’s.

Onex Corporation, the Canadian private equity company, sold the last of its shares in Swiss packaging company SIG Combibloc on Monday evening, ending the association it has had with the company since it bought it in 2014. The block sold was worth Sfr657m ($725m).

The green bond market is set to grow in Swiss francs, as domestic investors turn towards the product. This week, Swiss Prime Site, a local real estate developer, made use of this demand to sell one of the largest Swissie real estate bonds in over six years.

Mirabaud Asset Management, the investment arm of the Mirabaud Group, has hired a new head of Swiss equities to replace Paul Schibli who is retiring in 2021.

The Swiss Banking Association has asked the country’s financial supervisor to consider setting up a covered bond regulatory framework that would put structured covered bonds on a par with other legally based covered bonds, such as Swiss Pfandbriefe.

French agency Caisse des Dépôts et Consignations finished its 2020 syndicated funding programme with a visit to the Swiss market this week, printing an extremely tight deal through the high quality domestic covered bond curve.

Commodities trading company Glencore Agriculture is making its loan debut in Asia, seeking $300m from the syndication market as a way to establish itself in the region and show its independence from its parent. The thin pricing on offer means only banks keen to build a relationship with the company in the hope of getting ancillary business will jump in, writes Pan Yue.

UBS Group made a rare entry into the euro market on Tuesday, issuing €1.5bn of new senior paper in line with fair value.

Swiss biotechnology company Idorsia has completed its Sfr575m ($629m) at-market rights issue to fund the commercialisation of insomnia drug daridorexant.

Swiss duty free operator Dufry has finished its Sfr820m at-market rights issue, which has enabled Advent International and Chinese e-commerce firm to take large strategic stakes in the company.

Swiss biotechnology company Idorsia has opened the books on its Sfr575m ($629m) at-market rights issue to fund the commercialisation of insomnia drug daridorexant.

A Sfr111m ($122m) trade in shares of SoftwareOne, a Swiss software company, on Thursday night earned a strong reception from investors, showing that there is still strong demand for growth-orientated tech stocks, despite deal execution in equity capital markets growing more difficult.