‘Small deal, big splash’ as ASR unveils first euro RT1
ASR Nederland brought its perpetual non-call 10 year restricted tier one (RT1) deal on Thursday, the first RT1 instrument to be issued in a core currency.
Guidance was set at 4.625%-4.75%, from initial price thoughts of 5% area. Final terms were set at 4.625% for the €300m deal.This was inside where analysts at CreditSights had priced the RT1, with a yield to call of around 5%. The analysts used ABN Amro’s €1bn additional tier ...
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