Sub debt: Axa turns to dollars as StanChart taps 30s
Axa returned to subordinated issuance on Monday after an absence of nearly three years, as Standard Chartered re-opened a recent tier two.
The French insurer was in the Reg S dollar market with a perpetual non-call six year transaction.
Lead managers BNP Paribas, HSBC, Citi and Crédit Agricole had taken over $2bn of orders early on Monday morning. They had announced the transaction on Friday afternoon.The deal was being marketed ...