Svenska breaks dollar AT1 coupon record

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By Tyler Davies
29 Sep 2020

Svenska Handelsbanken found tight pricing for a dual offering of additional tier one (AT1) notes on Tuesday. It became the first European bank to set a dollar AT1 coupon of less than 4.5% for one of its tranches.

The Swedish issuer opened books for a $500m perpetual non-call 6.5 year and a $500m perpetual non-call 10.5 year. 

Bookrunners Barclays, Citi, Handelsbanken, JP Morgan and Morgan Stanley started the pricing in the 4.75% area for the bond with the shorter call period and in the 5.125% ...

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