HCB readies T2 deal with unusual maturity structure

By Tyler Davies
17 Sep 2020

Hamburg Commercial Bank is getting ready to issue a new tier two capital bond with an unusual five year tenor, as part of its efforts to reconnect with investors following its privatisation in 2018.

HCB had first set out to raise tier two capital earlier this year.

It embarked on a roadshow in February for a 10 year non-call five transaction, with BNP Paribas, Deutsche Bank, Goldman Sachs and Morgan Stanley acting as lead managers.

But the German lender had to ...

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