◆ Bank pushes forward to raise capital outside of home market ◆ $750m deal rumoured close to 15 times covered at peak book ◆ Deal benefits from government support making it different to other AT1s
◆ Heavy January supply and higher NIPs will spur pre-funding ◆ Earnings blackouts, rates and geopolitical tensions are curbing issuance ◆ Montepio waits for stability
