Capital-hungry banks relish retail investors’ infatuation with perps
The keen appetite of retail investors around the world for pumping hybrid capital into banks showed no signs of abating this week as yet more tier one debt was sold to private banking networks.
In the past few weeks, many capital-hungry banks have been able to sell large transactions, defying doubters about the depth of the retail bid for tier one capital.
This week Sumitomo Mitsui Financial Group priced a $1.8bn deal, said to be the largest ever Eurodollar retail-targeted tier one issue.
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