PSB prices ‘semi-private’ AT1 debut at 8.75%
Promsvyazbank (PSB) priced an inaugural additional tier one (AT1) dollar deal at 8.75% on Wednesday morning after attracting more than $1.1bn of orders.
The final level was 25bp inside initial guidance of 9% area, which had been set on Tuesday morning following an announcement of the mandate the previous afternoon.Bankers on the deal confirmed market speculation that the $500m perpetual non-call 5.5 year transaction, which was not ...
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