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

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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