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Pricing of CHF denominated State Treasury bonds

Pricing of CHF denominated State Treasury bonds

Pricing of CHF denominated State Treasury bonds

The Ministry of Finance priced a 3-year Swiss franc denominated bond maturing on May 8th, 2018 with the nominal amount of CHF 580 million. The bonds were priced 37 basis points over mid-swap rate and the coupon has been set at 0%. The issue price was 100,642% of the nominal value what implies the yield of -0,213%.

The bonds were placed among investors from Poland (47%), Germany (34%) and Switzerland (19 percent).

In terms of investor type, bank treasuries dominated the orderbook - 49 percent, followed by public institutions with 34 percent, private banks10 percent and asset managers 7 percent.

The issue was executed under Republic of Poland's Euro Medium Term Note (EMTN) Programme.
The lead managers on the transaction are HSBC and PKO BP.

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