Ibercaja seeks capital boost with sub, ABS buyback

13 Nov 2012

Ibercaja has launched a below par buyback on close to €3.3bn of ABS, tier one and lower tier two notes.

It is offering to buy back the notes through an unmodified Dutch auction, meaning it can pay investors different prices depending on each account’s submission. It has set a minimum buyback price of 64% of par for two lower tier two notes totalling €550m. The minimum price on ...

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