Sabadell awakens dormant euro AT1 market

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By Tyler Davies
04 Mar 2021

Banco de Sabadell was met with good demand this week for the first euro additional tier one benchmark of 2021, as investors welcomed the rare opportunity to pick up subordinated bank debt in the primary market.

Capital instruments have been in short supply in recent months, as banks have focused on issuing senior debt for their regulatory requirements.

Before this week, there had been no benchmark AT1 supply in euros all year. Only Abanca and Banco BPM had issued new deals in the format, but ...

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