Sub debt: Axa turns to dollars as StanChart taps 30s

14 Jan 2013

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 ...

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