SEB steps up to the plate as tier two flies

Extended uncertainty over new capital regulations, as well as an almost empty tier two bucket due to a deal due to be called at the end of September, pushed Skandinaviska Enskilda Banken into the tier two market on Wednesday, EuroWeek understands. As with ABN Amro’s dollar denominated deal, SEB’s 10 non-call five year deal attracted strong demand, and more tier twos are set to follow.