Russia’s Promsvyazbank tops up November 2012 tier two
Promsvyazbank tapped the $400m subordinated bond it issued at the end of last year for a further $200m on Thursday, following a similar move by Tinkoff Credit Systems earlier in the week (see separate story).
HSBC, JP Morgan and Promsvyazbank arranged the 2019 tap after the trio and Bank of America Merrill Lynch arranged the original deal in
"The underlying logic in both this and the Tinkoff deal is that sub debt grandfathering under old-style tier two structures is allowed until the
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