S&P labels BPE sub and prefs buyback ‘distressed’
Banco Popular Español is offering to buy €702.7m of its tier one and tier two instruments at a small premium to market value, in a transaction that Standard & Poor’s has branded a "distressed exchange".
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts