Quintet debuts with small AT1

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By Frank Jackman
19 Oct 2020

Luxembourg's Quintet Private Bank tapped the market for €125m of additional tier one (AT1) paper on Friday, marking its debut in the asset class.

“This is a very small trade, likely pre-placed and partly underwritten by the bookrunner,” said one banker away from the deal.

According to the Luxembourg-based bank’s half year results, it does not have any AT1 debt outstanding.

Sole bookrunner JP Morgan set the coupon at 7.5% for ...

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