€6.7bn in subs shows confidence in FIG capital growing

Rabo right size
By Graham Bippart
14 May 2014

Five FIG issuers took to the subordinated markets to take advantage of months of undersupply this week, with the results highlighting not just the feverish grab for yield but also just how far banks have come since the crisis of 2008 in building their capital levels.

Among the issuers, Bankia took the opportunity to price its first ever tier two deal, while on the other end of the credit spectrum Rabobank went for size, printing €3.22bn equivalent across two deals on Wednesday, one of which represented the bank’s first callable tier two, according to ...

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