Grenke tightens 37.5bp against strong AT1 demand

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By David Freitas
26 Nov 2019

Grenke priced an additional tier one (AT1) bond on Tuesday, enjoying strong appetite from domestic investors. The German lender raised €75m, an additional €25m compared with the expected size.

Grenke ran a global investor call on Monday and did not waste any time after that, opening books for a new AT1 bond on Tuesday.

The German lender was marketing a perpetual instrument, callable at six years, with an expected size of €50m and a group common equity ...

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