Handelsbanken and LBBW grab ‘copy-paste’ results in busy bail-in market
The euro market had no trouble digesting a pair of similar trades from Landesbank Baden-Württemberg (LBBW) and Svenska Handelsbanken this week, with both banks printing non-preferred senior bonds at 58bp and paying a small new issue premium to investors.
LBBW was marking a seven year non-preferred senior bond and Handelsbanken was out with a 10 year, as the primary market heated up again on Tuesday.
“Both trades are a copy-paste, but with a slightly different tenor,” said a syndicate banker involved in the Handelsbanken deal.The Swedish bank ...
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