Grenke tightens 37.5bp against strong AT1 demand

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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