Strong interest for Zurich, Banco do Brasil, but regs will limit supply

12 Jan 2012

Strong demand for Zurich Insurance and Banco do Brasil’s deals show the depth of Asian retail demand for hybrid capital trades — but further supply depends on regulatory constraints, say bankers.

Zurich Insurance raised orders of over $4bn this week for a perpetual non-call six year capital instrument, while demand for Banco do Brasil’s future-proofed tier one issue, which is due to be priced later on Thursday, is also said to be strong.

Private banks have provided a large ...

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