◆ First euro AT1 for more than two months as Santander, other G-Sibs went for cheaper dollars ◆ Non-national champion status makes it 'not straightforward' execution ◆ Ongoing strong bid for yield
◆ Nordea's deal shows greenium is alive in the FIG market ◆ Pricing was flat to fair value thanks to robust demand ◆ Bawag uses tender to reallocate old investors into new €400m tier two refinancing
◆ Fourth deal in a little over a week will add to $6.5bn of AT1 issuance ◆ Comes just a day after Barclays garnered huge response for its tightly priced trade ◆ Santander seen focusing on achieving lower yield
