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FIG

Vakifbank taps 2022s for $400m amid sub spree

Vakifbank tapped its tier two $500m 6% 2022s for a further $400m on Monday. A $1.1bn book for the note and pricing at a yield 50bp inside the original deal indicates that the well of demand for subordinated debt is far from dry, despite a stream of these issues since September.

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