Santander provides first view of new AT1 landscape
The return of the primary market for additional tier one (AT1) securities on Tuesday showed that the previous conventions of wildly oversubscribed books may well be a thing of the past, said bankers. Santander's reopener — a €1.5bn perpetual non-call seven year — attracted in what may have been the smallest book yet for an AT1 deal.
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