Switzerland to issue bonds worth $2.51 billion in 2020

The Swiss Federal Finance Administration (FFA) plans to issue bonds with a face value of 2.5 billion Swiss francs ($2.51 billion) in 2020, up from around 2 billion this year.

The bond auctions will take place every month, except in August, and the volume of bonds outstanding will be reduced by 2.1 billion francs due to bonds that are maturing, the FFA and the Swiss National Bank said in a joint statement on Tuesday.

The volume of outstanding money market debt register claims will be kept at around 6 billion francs and auctions for these will be conducted on a weekly basis, the FFA and the SNB said.