Caixa opts for early AT1 refi

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Caixa opts for early AT1 refi

Caixa Bank, Spain

◆ Issuer chooses to raise new AT1 capital six months ahead of call and tenders old paper ◆ Tight pricing means smaller book in absence of fast money ◆ AT1s have reached ‘aggressive’ levels but expected to keep attracting investor support

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