LBP drops into MTNs for tier two

By Frank Jackman
27 Apr 2021

French borrower La Banque Postale (LBP) has visited the private placement market to raise tier two debt, which could go towards financing the call of its April 2026 line.

LBP tapped its 0.75% August 2032 non-call August 2027 tier two note for €250m to take the amount outstanding to €750m.

JP Morgan arranged the increase on April 20, with the reopening settling on Tuesday. The tap was priced at a cash price of 98.19, indicating a ...

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