Banco Comercial Português found room to launch a new tier two instrument in the euro market on Friday, raising €450m with its second subordinated bond offering of the year.
The Portuguese issuer said that it would be raising €450m of tier two capital after attracting €725m of orders for a 10.5 year non-call 5.5 bond. It had initially told investors to expect a deal size of €400m-€500m.
Bookrunners Credit Suisse
, Goldman Sachs
, JP Morgan