US dollar
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Deal replaces facility due to mature next year
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Outstanding subordinated debt totalling billions of euros no longer has equity credit
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The company has at least five other drawn facilities
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◆ Praise from bankers away from transaction ◆ Deal launched into market 'that wants to buy AT1s' ◆ Post-CPI spike in US Treasury yields not viewed as game changer
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◆ Strong appetite for sub-benchmark pair ◆ Julius Baer issues in dollars after no replacement of Swiss franc AT1 last year ◆ Iceland’s Landsbankinn debuts in international AT1 market
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The loan was provided by 18 financial institutions, including the new ones that joined
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◆ Second Icelandic AT1 in five months after no issuance for four years ◆ Issuer on the road ahead of dollar outing ◆ Arion's recent deal is the main reference
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Development institution prints new benchmark after tapping old line twice already this year
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Swiss bank racks up $22bn order book as investors jump for yield
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Deutsche Bank sparks debate on whether issuers will suffer should they not call AT1 deals amid excellent market conditions
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◆ First five year dollar from the issuer since 2021 ◆ L-Bank print provided building block ◆ Further dollar deals planned
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◆ 'First window' for 10 year dollar supply ◆ Deal over twice covered ◆ Pricing tightens 2bp