Switzerland Lowers Planned Bond Funding in 2021
By Emese Bartha
Switzerland's Federal Finance Administration has lowered the
country's planned capital market funding for 2021, due to expected
lower financing needs related to the Covid-19 pandemic.
"According to the first extrapolation for 2021, the approved
expenditure to deal with the Covid-19 pandemic has not been fully
utilised in all areas," the FFA said Tuesday.
The FFA sees Switzerland's bond issuance at 8 billion Swiss
francs ($8.64 billion) at face value this year, down CHF2 billion
versus the March 30 estimates, it said. Gross issuance, which
includes the premia in addition to the face value, is likely to be
approximately CHF9 billion, it said.
Year-to-date, the FFA has sold bonds with a face value of CHF6.8
billion, it said.
Despite the lower funding requirement, the FFA keeps bond
auction dates unchanged and it maintains the optional issue dates
in October and December.
Write to Emese Bartha at firstname.lastname@example.org
(END) Dow Jones Newswires
September 28, 2021 02:37 ET (06:37 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.