Investors get on board with RBI for new tier two

By Will Caiger-Smith
10 Oct 2013

Raiffeisen Bank International overcame investors’ concerns about potential equity issuance and recent increases in loan loss provisions to sell €500m of 10 year tier two paper on Tuesday. The deal traded up on Wednesday, vindicating the issuer’s decision to stick to a small final size.

The issuer also had to contend with the fact the Bawag, a fellow Austrian lender, just days ago conducted a roadshow for a tier two trade but was not able to find enough demand to bring a deal. 

Lead managers Bank of America Merrill Lynch, HSBC, JP Morgan and ...

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