Tier two deals lead the week’s issuance

By Graham Bippart
03 Apr 2014

Investors sank their teeth into tier two FIG debt this week, with insurance company NN Group, BBVA and NordLB each hitting the market in an otherwise quiet few days for the market, compared to recent weeks.

NN Group, formerly ING Insurance, kicked off the tier two focused week, bringing in a €7bn book for its €1bn subordinated bond on Tuesday. The 30 year non-call 10 deal was priced at the tight end of its target, at mid-swaps plus 295bp. Initial price thoughts were in ...

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