Abanca optimises capital structure with new AT1

By Frank Jackman
07 Jan 2021

Spain’s Abanca sold the year’s first subordinated deal in euros on Thursday, when it issued a perpetual non-call 5.5 year additional tier one (AT1) bond to help optimise its capital structure.

On Tuesday, Abanca appointed Bank of America, Barclays, Crédit Agricole, Goldman Sachs and JP Morgan to lead the trade, which was expected to be about €350m in size.

After two days of marketing, the Spanish bank launched the deal on Thursday morning with ...

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