Rare pair go small with senior pref deals

By Frank Jackman
24 Nov 2020

As benchmark issuance remains on the side-lines, smaller issuers have come out to play, with rare borrowers Cassa Centrale Raiffeisen dell’Alto Adige and Luminor Bank on the hunt for deals Lilliputian in size on Tuesday. A handful of larger issuers are keeping a close eye, and could come to the market with small deals of their own in the coming weeks.

Benchmark issuers have avoided the market in the recent days, and the the performance of this week's smaller deals suggests that investors are baying for more paper.

"The demand is there – just look at how well the sub-benchmark trades are doing,” said one banker away from the deals.

Cassa ...

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