AT1 yields ‘close to the lows’ as SEB shows restraint with dollar pricing

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By Tyler Davies
29 Oct 2019

Skandinaviska Enskilda Banken (SEB) refrained from pushing into record territory with the coupon on its new dollar-denominated AT1 on Tuesday, as European banks begin testing new lows for yields in the asset class.

The Swedish bank began the pricing for its perpetual non-call 5.5 year AT1 in the 5.375% area on Tuesday morning.

BNP Paribas, Goldman Sachs, JP Morgan, Morgan Stanley, SEB and UBS were the joint lead managers for the Reg S deal.

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