European buyers stump up for UBS Coco, sterling feels the LV=

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European buyers stump up for UBS Coco, sterling feels the LV=

European institutional investors reinforced their support for loss-absorbing capital instruments on Wednesday, providing the majority of demand for UBS’s low-trigger Coco and allowing the bank’s syndicate to price the deal inside the initial pricing range. Meanwhile, UK insurer Liverpool Victoria made its capital markets debut with a sterling denominated subordinated bond.

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