Permanent TSB garners AT1 demand amid light pipeline

Ireland NPL flag Fotolia
By Frank Jackman
18 Nov 2020

Permanent TSB attracted plenty of demand for a new additional tier one (AT1) note on Monday, with a lack of issuance in the asset class sending investors towards names offering higher yields.

“The AT1 pipeline is looking pretty light, so anything with a ‘bit of spread’ continues to attract a lot of focus,” said one banker away from the deal.

“The market feels well supported yet undersupplied. If this continues, then investors will be keen to support credit from names ...

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