SWITZERLAND - Investment consultant Kieger has tendered 100 million francs (65.8 million euros) in fixed interest on behalf of a corporate treasury client via IPE-Quest.
The mandate is for a fixed-interest portfolio (including convertibles and structured products). A minimum amount of currency risk is tolerated, but the investment may not be performed in non-franc denominated securities and hedged back into francs.
The minimum rating required for the investment is BBB (Standard & Poors) or Baa2 (Moody's).
The benchmark is Libor 3-month CHF. The risk level has to be in line with the stated benchmark. The return objective is 20 to 40 bps above the stated benchmark.
The closing date is December 1.