Race is on for capital as European sub debt market reopens

摘要

The European bank capital market reopened last week after a hiatus of more than two months, with the pressure now on for issuers to catch up with derailed issuance plans. Ubs, bnp paribas and tsb banking croup raised just over €2.1bn-equivalent of Additional Tier 1 and Tier 2 debt, making up for lost time in what has been a difficult year for the asset class. February's brutal sell-off and the UK's European Union referendum have played havoc with lenders' ability to access markets. A buoyant bank capital market is essential given that lenders must raise billions in loss-absorbing debt in the coming years to comply with regulations.