StanChart tops $2.5bn for tier two

18 Jan 2012

Standard Chartered has generated more than $2.5bn of demand for an old style tier two issue that will be priced on Wednesday afternoon at 390bp over US Treasuries — and which has impressed with the strength of demand.

Lead managers Barclays Capital, BNP Paribas, Credit Suisse and Standard Chartered released initial price guidance of 400bp over US Treasuries on Wednesday morning, later tightening it to 390bp over.

EuroWeek Bank Finance understands the books are in excess of $2.5bn, leading bankers to say that the Reg S dollar market was a ...

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