BNP Paribas shows TLAC options are open in non-core currencies
BNP Paribas is blazing a trail by selling non-preferred senior bonds in non-core currencies, as a broadening circle of investors show their interest in total loss absorbing capacity (TLAC) product from European banks. With more liquid points outstanding, the way could be open for more financial institutions to follow.
Australian dollar investors will have been very happy to gain some exposure to non-preferred senior bonds, after BNP Paribas opened the market in the currency for the very first time on Thursday.The asset class ranks between ordinary senior unsecured bonds and tier two instruments in ...
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