Luminor Bank proves doubters wrong

摘要

Baltic lender luminor bank navigated bond and equity market turmoil with its debut transaction last week, defying the doubters who thought such a niche deal would struggle to generate sufficient interest. The Estonian lender did fail to shift pricing, but could take comfort from scaling up the size of its deal. The bank sold a €350m 1.50% October 2021 note on Wednesday, getting in ahead of the rout in US equity markets later that day. The size was an increase over the €250m-€300m first marketed.