Bank bond investors focus on primary as spreads widen

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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