LeasePlan brings 'unique' AT1

By David Freitas
23 May 2019

Vehicle leasing firm LeasePlan Corporation issued its debut additional tier one capital on Thursday, a rare move for a firm outside the conventional banking sector. Pricing of the €500m perpetual non-call five year was not tightened from initial price thoughts.

Leaseplan chose Citi, Deutsche Bank, HSBC, JP Morgan and Société Générale to run the deal and they started the trade at initial price thoughts of 7.375%. That didn't change but size was set at €500m, with demand above €800m.

"The AT1 issuance will add ...

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