Co-op, ASB make currency debuts as FIG appetite blooms

Two second tier bank issuers took advantage of strong demand for their paper on Tuesday with Co-operative Bank and ASB Finance making well regarded debuts in euros and sterling respectively. "Spreads are tight and markets are open to second tier names," said a credit analyst at a real money investor. "So they’re more likely to do senior, and save their powder for covered bonds for more stressed conditions."