Goldman smashes 5% in pref market as BNPP makes triumphant return

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By David Rothnie
14 Nov 2019

Goldman Sachs set the lowest coupon of 2019 on a new preferred deal in the institutional bond market this week, while BNP Paribas buried the memory of its troubled dollar trade in January with a storming come-back.

Goldman Sachscame to the market on Wednesday with a new $1000 par preferred, printing the $600m perpetual non-call five year trade at 4.95%, beating the 5% achieved by Citi with its fixed-to-float preferred trade in September.

There have been tighter $25 par preferred deals ...

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