CaixaBank prices preferred flat to curve

By Bill Thornhill
19 Mar 2019

CaixaBank took advantage of strong market conditions to issue a €1bn seven year senior preferred transaction on Tuesday with strong demand allowing the issuer to price flat to its curve. At the same time, RBS opened order books for a dollar-denominated five year senior deal.

Barclays, CaixaBank, JP Morgan, Natixis and NatWest Markets opened order books on Tuesday for the seven year deal rated Baa1/BBB+/A with price guidance of 115bp area over mid-swaps.

At that level a lead manager said the bonds offered a spread of around 25bp to ...

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