Argenta seals non-pref comeback

Argenta_PA_575x375
By David Freitas
22 Jan 2020

Argenta Spaarbank returned to the euro market on Wednesday to seal a deal that it had pulled in last October. This time around the issuer was able to bring in the funding it wanted, even though the final spread only moved 5bp from initial price thoughts.

The Belgian lender opened books for a seven year non-preferred senior bond in euros, with an expected €500m deal size.

ABN AmroBNP Paribas and Morgan Stanley ran the deal, opening with price thoughts in the 120bp area over mid-swaps.

The size of the books grew to over €500m by 10am ...

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