Sub-debt market has to wait as La Caixa pulls year’s first LT2 on timing and pricing worries
The first euro capital trade of 2010 — a 10 year bullet lower tier two transaction from La Caixa that was due to be launched this week — was postponed. Lead managers Barclays Capital, JPMorgan and La Caixa pulled the deal after it failed to generate enough momentum ahead of the issuer going into its earnings black-out period.
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