Low trigger AT1s set for judgment day in new refi round
Changing emphasis from national regulators could give European banks more incentive to refinance additional tier ones with low common equity tier one triggers in the next couple of years, according to analysts at research house CreditSights.
The analysts published a note on Monday drawing attention to the different factors that will be at play when bank treasury teams have to decide whether to redeem their AT1s at their first call dates or whether to leave them outstanding in the market.Much of the focus ...
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