Clearstream brings debut senior deal at negative yield

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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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