Bankia flies with senior return despite wobbly market

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Bankia flies with senior return despite wobbly market

Spanish banking conglomerate Bankia found overwhelming demand for its first post-crisis senior unsecured deal on Thursday, as investors placed almost €3.5bn of orders for the five year trade. While the broader market showed some signs of weakness, bankers were confident that the FIG feeding frenzy would continue — even the sterling market saw some action, with Axa pricing a €750m 40 non-call 10 year subordinated bond.

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