Macquarie gambles on Basel
The market did not have to wait long for the first capital trade after the Basel release, which clarified some of the tier one and tier two grandfathering rules. Macquarie Bank priced Eu600m of bullet 10 year lower tier two on Tuesday, attracting Eu1.6bn of demand. Read EuroWeek on Friday to find out whether more issuers will be willing to take the same grandfathering risk.
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