KBC set to print around 75bp outside Barclays Coco

18 Jan 2013

KBC Bank is set to print a contingent capital transaction between 65bp and 90bp outside the trading levels for Barclay's existing deal which carries the same 7% core tier one trigger.

After books went subject in Europe on Thursday evening with around $5bn of demand, lead managers Bank of America Merrill Lynch, Credit Suisse, Goldman Sachs, JP Morgan, Morgan Stanley and KBC saw orders swell to $8.5bn before reconciliation, for a $1bn no-grow trade.

They tightened guidance to 8.125% ...

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