CaixaBank pays up for senior to avoid encumbrance
CaixaBank, which printed a €1bn 3.5 year bond on Monday, opted for the senior unsecured format — paying a large new issue premium — to refinance a maturing covered bond rather than rolling over the covered debt because it did not want to tie up collateral, EuroWeek understands. Elsewhere, Santander Consumer Finance brought a €1bn April 2015 bond on Tuesday.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts