SCB Norway offers ‘real rarity’ in euro market

By Tyler Davies
17 Feb 2020

Santander Consumer Bank AS was well supported for a rare offering of preferred senior debt at the beginning of the week, as market participants suggested that spreads on Norwegian bank bonds could have room to tighten further.

The issuer hired Barclays, Bank of America, Danske Bank, MUFG and Santander to arrange the sale of a new five year preferred senior bond in euros on Monday.

They began the pricing in the 65bp-70bp range over mid-swaps and were quickly met with ...

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