Banks set clear pricing lines on debut Saxo tier two

By Tyler Davies
27 Jun 2019

The lead managers running Saxo Bank’s debut tier two transaction took an innovative approach to pricing this week, setting out a clear range for investors before the books had even been opened.

The Danish challenger bank said on Tuesday that it had hired BNP Paribas and JP Morgan to sell a 10 year non-call five tier two.

But unusually at this stage, the bookrunners told market participants that Saxo was expecting to price its deal “in the context ...

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