Rabo gives hope to hybrid tier one market

June 03, 2009 12:00 am

The phenomenal performance of Rabobank’s $1.5bn perpetual non call 10 year hybrid tier one which came on top of the issuer’s bond exchange last week has given hope that the market could slowly reopen to other issuers. Even though the news flow around the asset class continues to be negative — with downgrades as well as Deutsche Bank not calling its bonds — the deal shows that investors are still willing to buy hybrid tier one. To find out more about what to make of the Rabo results, read EuroWeek on Friday.

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