Sub-debt steams ahead but fuel’s running out
The surge of CEEMEA subordinated debt has continued apace this week, as Sberbank, Gazprombank, Isbank and most recently Vakifbank tapped the market for tier two bonds.
But though there is still more to come Promsvyazbank is still on the road for its new LT2 issue some bankers are saying that demand could be starting to dry up, with investors full after $6.45bn of supply so far this month.
"In the LT2 space,
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