Italy’s Sondrio takes pricy T2 in quiet market

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Italy’s Sondrio takes pricy T2 in quiet market

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Banca Popolare di Sondrio tapped the FIG euro market this week, looking to bolster its subordinated capital buffer. The issuer had to pay an expensive coupon of 6.25% on the notes, but with this issuance it fulfils its minimum requirements for own funds and eligible liabilities (MREL).

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