EUROFIMA successfully returns to the Swiss franc market
Today EUROFIMA successfully re-entered the Swiss franc market with the launch of a new 7-year CHF 280 million bond. This transaction represents the first issuance by EUROFIMA in its domestic bond market since November 2009. Credit Suisse and Zürcher Kantonalbank were the lead managers, with Daiwa Capital Markets as co-lead manager.
Following the investor presentation held by EUROFIMA’s Martin Fleischer (CEO) and Michele Montefiori (Head of Capital Markets) in Zurich on Monday, the lead managers gathered strong feedback from the Swiss investor community. Books were formally open this morning and built up rapidly. After only 7 minutes orders reached over CHF 500 million and books were closed. The bond was priced at mid-swap - 5bps (+20.3bps over Swiss Confederation).
The final distribution saw the participation from banks (47%), asset managers (43%), insurance companies (4%) and pension funds (6%). Approximately 96% of the bond was placed domestically, while the rest was sold to Japan.