Clearstream brings debut senior deal at negative yield

By Tyler Davies
24 Nov 2020

Clearstream Banking was nearly 12 times subscribed for its debut senior transaction on Tuesday, allowing it to tighten its pricing by 39bp and issue at a negative yield.

The German central securities depository opened books for a €350m five year note through bookrunners Commerzbank and HSBC. 

It was marketing the deal as a preferred senior bond, which is a form of unsecured debt issued by banks. 

But the firm made it clear that it was ...

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