Bank capital enjoys flying start as Intesa breaks new ground
Intesa SanPaolo and Santander found attractive pricing as they kick-started the bank capital market in euros this week, and bankers are forecasting a busy January before financial institutions drop into blackout periods.
Intesa SanPaolo was looking to print the first ever perpetual non-call 10 year additional tier one in euros, having circulated initial price thoughts of 8%-8.125%.One FIG syndicator said the issuer had started pricing with “little in it”, and expected the Italian lender to pull the final pricing close ...
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