SG frontloads with AT1 blowout

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By David Rothnie
13 Nov 2020

French bank Société Générale made a triumphant return to the dollar market this week, with its first additional tier one (AT1) capital issue in the currency for more than two years.

The French bank announced the 144A trade overnight in Asia on Thursday, building an order book of $4.5bn before New York opened. 

The final order book reached $8bn, enabling Société Générale to print the $1.5bn trade at 5.375%, compared with initial price thoughts of 5.875%. 

Agathe Zinzindohoue, group ...

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