Caixa Geral AT1 sparks risk-reward debate with 10.75% coupon

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Caixa Geral AT1 sparks risk-reward debate with 10.75% coupon

Tyler Davies
March 23, 2017 01:00 PM
Caixa_Geral_PA_230x150
Portugal and EU flags fly outside a branch of Portuguese bank Caixa Geral de Depositos in Berlin, Germany, 04 June 2012. Like Spain before it, Portugal is now forced to prop up its banks with federal financial aid as well. Photo: CLAUDIA LEVETZOW | Claudia Levetzow/DPA/PA Images

Caixa Geral de Depósitos attracted a solid €2bn of demand on Thursday for Portugal’s first additional tier one, as the bank made important headway on its recapitalisation plan. But market participants were divided over calculating fair value for the risky debt instrument.

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Bank CapitalPortugalEuropeEMEAFIG
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Tyler Davies
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