Banks set clear pricing lines on debut Saxo tier two

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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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