AUG 17, 2015 – 17:00
(Bloomberg) — Royal Dutch Shell Plc sold bonds in the Swiss currency for the first time since 2006, increasing the offer to more than 1.3 billion francs ($1.3 billion) on strong demand.
The oil giant issued 800 million francs of notes due in August 2023 and 525 million francs of August 2028 bonds, according to data compiled by Bloomberg. The debt was sold to yield 29 basis points and 40 basis points more than benchmark rates, respectively, the data show. The company originally planned to sell 900 million francs of debt, according to a person familiar with the deal who asked not to be identified because they aren’t authorized to speak publicly.
Shell is capitalizing on near record-low borrowing costs in Switzerland after government bond yields turned negative this year. Demand was boosted by corporate debt sales in the Alpine nation totaling just 27.6 billion euros ($30.6 billion) in 2015, compared with 486.1 billion euros of bonds in the single currency.
“It’s cheap for Shell, so if they were seeing excess demand they may as well sell as many as possible,” said Bryn Jones, the London-based head of fixed-income research at Rathbone Brothers Plc, which oversees 28.4 billion pounds ($44 billion). “It’s hard to get high-quality paper in Swiss francs so I suspect that’s why there’s been high demand for it.”
Jonathan French, a London-based spokesman for Shell, declined to comment on the sale when contacted by phone.
Average yields on Swiss government bonds fell to a record low of minus 0.46 percent on Jan. 23, according to Bank of America Merrill Lynch index data. They were at minus 0.19 percent on Aug. 14, the data show.
To contact the reporter on this story: Alex Longley in London at [email protected] To contact the editors responsible for this story: Shelley Smith at [email protected] Mark McCord, Neil Denslow
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This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
