Santander AT1 signals start of tough period for call decisions

By Tyler Davies
07 Feb 2019

A last minute additional tier one deal from Banco Santander this week had investors crossing their fingers in the hope that they can survive 2019 without seeing a bond being extended past its first call date.

But the Santander saga is likely to be only the tip of the iceberg for what is in store, with market participants none the wiser as to what could be deemed an "economic call policy".

Santanderdived into the Reg S dollar market on Wednesday to launch a $1.2bn perpetual ...

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