SWISS FRANCS

摘要

Canton Geneva's wholly owned public transport group TPG (transports publics genevois) debuted on Wednesday with a long-dated deal to fund its transport infrastructure projects. The bond benefits from a Simple Guarantee (Einfache Buergschaft or Cautionnement Simple, in German and French) from the agency's 100% owner, Canton Geneva. The format is similar to that of EGW's deals. Following a roadshow in Geneva and Zurich on Tuesday, which had investor feedback for a long-dated bond in the 1% area, soft-sounding went out on Wednesday morning for a 20-year maturity at 0.9%-1%, before books were opened for the target size of SFr160m at the tight end of soundings.