Saxo Bank floats high coupon for small AT1 refi
Saxo Bank gave investors a chance to pick up one of the highest yields on offer in the additional tier one (AT1) market in euros this week, albeit in a very small sub-benchmark size.
The Danish investment bank was looking to raise €50m-€75m of capital through a perpetual non-call 5.5 year AT1.
Market participants said the issuer was likely to be looking to refinance its outstanding €45m 9.75% bond, which is callable in February 2020.JP Morgan and Nkyredit Bank ran ...
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