Return of Compagnie de Financement Foncier (Bloomberg Ticker: CFF) to the Swiss franc market after an 8-year break!
On April 20, 2022, taking advantage of a favorable arbitrage in Swiss francs vs Euro, Compagnie de Financement Foncier issued CHF 260m at 7 years. This return of the Compagnie de Financement Foncier to the CHF Capital Markets after an 8-year break is a success and a testimony to the recognition of the Compagnie de Financement foncier among Swiss investors.
To note :
- an amount of CHF260m representing the largest non-domestic Covered bond in CHF of the year 2022 on the Swiss Franc market,
- an announcement to the market and an on-screen announcement following the regular update of the CFF signature to investors,
- strong traction in the order book with an excellent reception from investors and a minimum size revised to CHF200m from the first hour of the sale process,
- sustained interest from investors ultimately enabling the order book to be closed at 10.45 CET for a final size of CHF260m,
- with a final spread of SARON MS+11,
- good diversification of Compagnie de Financement Foncier’s investor base
- the very high granularity of the order book with a great diversity in the type of accounts, all for tickets of significant size.