Popolare pleases LT2 buyers with cap hike

28 Oct 2010

Banco Popolare priced the largest lower tier two issue for a single A rated issuer in three years this week as it sought to take advantage of the momentum created by a Eu2bn rights issue announced last Sunday (October 24).

The success of the Eu1bn 10 year bullet deal via Banca Aletti, Bank of America Merrill Lynch, BNP Paribas, Goldman Sachs and Nomura shows how important banks’ capitalisation has become for fixed income investors, in particular in light of future tougher capital requirements from regulators.

As EuroWeek was ...

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