Raiffeisen Finalizes AT1 Sale After Failed Deal in March
- Lenders also completes SRT linked to €2.8 billion in loans
- Older note price jumps as lender tenders buyback above par
This article is for subscribers only.
Raiffeisen Bank International AG successfully raised new capital to replace an Additional Tier 1 bond more than six months after an earlier deal failed due to the lender’s struggle to exit its Russian operations.
The Austrian bank priced €650 million ($685.6 million) of new AT1 bonds on Monday, with the coupon set at 7.375%, down from initial price talks of around 7.75%, according to a person familiar with the matter, who asked not to be identified. Investor bids were over €870 million, the person added.