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Investors saw plenty of juice in first public AT1 from Chile as regulatory framework draws praise
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  • SSA
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  • Hong Kong and Singapore were the places to be for insurers this week, as private bank investors in the region once again proved their demand for higher yielding subordinated assets.
  • FIG
    The Basel Committee on Banking Supervision has taken a flexible approach to dealing with banks that are systemically important on a national level. The global bank standard setter unveiled a framework for domestic systemically important banks (D-SIBs) on October 11, saying that national regulators had some leeway for interpretation.
  • FIG
    BBVA is offering investors the chance to get out of up to €2.9bn equivalent of outstanding euro, sterling and Japanese yen subordinated debt in a buyback using an unmodified Dutch auction, having simultaneously announced it will consider upcoming calls on an economic and regulatory basis.
  • Raiffeisen Bank International (RBI) has launched a sub debt exchange to avoid losing capital treatment under Basel III, and in the process is saving money on a new style tier two issue.
  • FIG
    UniCredit is preparing to speak to European investors about a potential tier two transaction, in a move that could end the hiatus of subordinated debt issuance from peripheral banks.