Sabadell goes private for bucket-filling AT1

Jasper Cox

November 13, 2017 01:30 pm

Sabadell_PA_230x150 — October 5, 2017 - Barcelona, Catalonia, Spain - A customer at an ATM of the 'Banco Sabadell', the fifth-largest banking group in Spain, the day it will announce the relocation of their headquarters from Catalonia to Alicante in the Valencian Community as the Catalan government announces an unilateral declaration of independence from Spain for the next Monday after a secession referendum at October 1st. The Bank reacts that way to a 12\% loss in the stock exchange during the last sessions and prevent to be located outside of the EC, even if for minutes. Spain's Central Government denies that there have been a referendum and does not accept the result as the Catalan referendum law had been suspended by Spain's constitutional court (Credit Image: © Matthias Oesterle via ZUMA Wire) | Matthias Oesterle/Zuma Press/PA Images

Banco de Sabadell did a private deal for €400m to raise of additional tier one (AT1) to meet the required amount it needs in the asset class, as investors put Catalan worries behind them.

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Jasper Cox