Erste Bank finds €4bn of demand on return to AT1

AT1
By Tyler Davies
05 Apr 2017

Austria's Erste Bank was more than four times oversubscribed for its second additional tier one (AT1) trade on Monday, allowing the issuer to move pricing close to fair value.

Joint lead managers Erste Bank, Barclays, Goldman Sachs, Morgan Stanley and UBS were able to revise pricing by up to 50bp for the new perpetual non-call seven AT1, after investors put more than €4bn of demand behind the €500m offering.

Price thoughts began in ...

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