Senior investors rush down credit curve
As markets got excited in the run-up to Wednesday’s long term refinancing operation and then basked in its afterglow, senior deals came thick and fast from financial borrowers at the lower end of the credit curve.
Launching after the results of Wednesdays operation were released, Italys Banca Monte dei Paschi di Siena proved that second tier credits from peripheral jurisdictions could access the senior unsecured market in size. KBC and Raiffeisen Bank International showed they could do so at
UniCredit also hit the
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