OP and SEB overlap in euros with long dated MREL deals

By Tyler Davies
04 Nov 2019

Skandinaviska Enskilda Banken (SEB) got away without having to pay any sort of a premium for its debut non-preferred senior bond on Monday, despite having to compete for attention with Nordic peer OP Corporate Bank.

OP Corporate Bank and SEB were each marketing new 10 year non-preferred senior deals in euros. They had also started with the same initial price thoughts of mid-swaps plus 80bp-85bp.

But there was enough demand from investors to allow both of the borrowers to push towards tighter ...

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