BCP joins peripheral flurry

摘要

BANCO COMERCIAL PORTUCUES Sold the first euro Additional Tier 1 bond issue in four months last Thursday, joining the rush of peripheral borrowers making a dash to the credit market to capitalise on the much-improved issuance backdrop. It was the third subordinated bond offering from a Southern European financial issuer this year, following Abanca's €350m 10NC5 Tier 2 and Generali's €500m 10-year bullet. Other European lenders, by contrast, have largely steered well clear of the sector.