troppidebiti
Forumer storico
Occhi aperti per questa e soprattutto per l'offering circular... sarà un turning point per capire cosa la banca, una delle più solide nel contesto europeo, prevede per gli anni a venire...
Una cartina tornasole da non perdere...
Rabobank Sells $1.5 Billion of 11% Subordinated Perpetual Notes
By Esteban Duarte and Neil Unmack
May 29 (Bloomberg) -- Rabobank Nederland NV sold $1.5 billion of perpetual Tier 1 securities in dollars, the first offering to institutional investors by a European bank this year.
The subordinated bonds will pay interest of 11 percent until a June 2019 call date, according to data compiled by Bloomberg. The coupon will change to float at 1086.75 basis points more than the three-month London interbank offered rate should Utrecht, Netherlands-based Rabobank not call the bonds, Bloomberg data show. A basis point is 0.01 percentage.
Banks use subordinated debt to bolster regulatory reserves and the last issue of Tier 1 debt in Europe was in September, according to Societe Generale SA. Investors shunned the securities on concern writedowns of almost $1.5 trillion by financial companies worldwide would trigger losses on the notes.
“Rabobank has always been one of the stronger names in the market, so you would expect them to be able to this,” said Matthew Maxwell, a credit analyst at SocGen in London. “The situation for other European commercial banks is far less certain.”
Roelina Bolding, a spokeswoman for Rabobank in Utrecht, couldn’t immediately comment.
Credit Suisse Group AG, Bank of America Corp. and UBS AG underwrote the issue, according to people familiar with the offering who declined to be identified. The terms of the notes are comparable to those offered by the Dutch lender to swap some existing Tier 1 notes on May 18, the people said.
ma dai non ci credo avrai riportato una news errata
