Bank bond investors focus on primary as spreads widen

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By Frank Jackman
22 Oct 2020

Bank debt investors are still piling into the primary market, even as deals struggle to perform in secondary trading.

A €500m January 2031 non-call January 2026 tier two from La Banque Postale was spotted at 144bp over mid-swaps on the secondary market on Thursday, 6bp wider than where it was printed on Monday.

Similarly, Tuesday’s €500m perpetual non-call 10 year restricted tier one from UnipolSai is trading at ...

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