©Reuters. CaixaBank places its second bond in pounds for an amount of 500 million
Barcelona, March 29 (.).- CaixaBank (MC:) has today closed its second bond issue of 2022, in this case of senior non-preferred debt in pounds for an amount of 500 million euros.
The entity has placed the issue in a 6-year non-preferred senior format with an early redemption option in the last year by the issuer, taking advantage of “the good market tone, after weeks of volatility and stressed markets.”
With this issue, CaixaBank resumes its strategy of diversifying its funding sources in the capital markets, thus expanding its investor base.
This bond is in addition to the sterling and Swiss franc issuances made in May and June 2021, respectively, as the bank recalls in a statement.
The price has been set at 210 basis points above the United Kingdom Treasury (UKT) level, 20 points below the 230 basis points offered in the announcement, and the coupon has been set at 3.5%.
The issue has had a demand that has come to exceed 1,500 million pounds.
Non-preferred senior debt ranks lower than preferred senior debt in the event of resolution or insolvency, but higher than subordinated debt, and has been designed by regulators to increase the solvency of banks and guarantee the existence of higher liabilities that absorb losses in the event of resolution of the entity.
The entities in charge of placement have been Barclays (LON:), BNP Paribas (PA:), CaixaBank and HSBC.
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