Macquarie pulls off hybrid despite tough markets
Macquarie Bank priced a well oversubscribed perpetual non-call five hybrid tier one on Thursday despite tough market conditions. Bank of America Merrill Lynch, Credit Suisse, JPMorgan and Macquarie Bank led the $400m issue, which priced at the tight end of guidance with a 8.375% coupon from the 8.5% initial talk.
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