SNS Bank gets simple LT2 away
SNS Bank priced a Eu500m 10 year bullet lower tier two at the tight end of guidance this week via Bank of America Merrill Lynch, Deutsche Bank and Goldman Sachs. The deal carried a simple structure and was priced with a coupon above 6%, but demand was not overwhelming. To find out more about the dynamics of the deal and whether it opens the subordinated market for lower rated credits, read EuroWeek on Friday.
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