Swiss Re has launched the second convertible bond by a Swiss issuer in less than a week with a Sfr1bn (€765m) issue to fund its $6.8bn (€5.8bn) purchase of GE Insurance Solutions, the world's fifth-largest reinsurer.

Earlier this week Deutsche Bank sold a Sfr767m exchangeable bond for Adecco chairman and chief executive Karl Jacobs, convertible into 10 million shares in the company, in the first ever bond backed entirely by stock.