SWISS FRANCS

摘要

Zurcher kantonalbank pre-fmanced some of its chunky redemptions coming due in 2015 on Thursday with a rare mid-term deal. Sole lead ZKB had received interest for the bond after it priced a negative yield two-year the previous week. Anchor orders and Ms of just under SFr100m (US$99.6m) allowed the bank to open books on a SFr100m minimum six-year at a 0.13% yield, with a 0.25% coupon. Solid and swift demand pushed the size up to a final SFr320m as accounts, some of which typically do not participate in ZKB deals citing either full lines or super-tight spread, did take part as the tenor for a high-rated name is very unusual in the current ultra-low-yield environment.