Banks eye tier two options after Nordea demand tops €4bn
FIG bankers say that the heavy demand seen for Nordea’s lower tier two issue is leading other banks to look at their options for callable non-step issues, but they warn that the floodgates are not open yet.
Some 350 accounts placed more than 4bn of orders for the Swedish banks tier two bond issue on Wednesday. The deal was the first euro-denominated tier two since the second quarter last year to be sold fresh rather than being issued as part of an exchange.I dont see everyone following, said a FIG ...
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