Bank capital enjoys flying start as Intesa breaks new ground

Intesa Sanpaolo 230x128
By Tyler Davies
05 Jan 2017

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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