CaixaBank draws hefty order book with non pref

By David Freitas
11 Jun 2019

CaixaBank was able to attract orders of more than €3.85bn for the issuance of its seven year senior non preferred bond on Tuesday, more than three times the deal size.

Barclays, BNP Paribas, CaixaBank, Credit Suisse and Morgan Stanley opened books on Tuesday for the deal, with initial price thoughts in the 175bp area over mid swaps.

The final spread was 145bp for the €1.25bn transaction. 

“I saw fair value in the high 140bp ...

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