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Riskier Bank Bonds Roar Back as Returns Rise, AT1 Market Reopens

(Bloomberg) -- Riskier bonds issued by banks are recovering further from the turmoil caused by US regional lenders and Credit Suisse Group AG’s crisis, offering some of the best gains in debt markets and as demand returns for new deals. Most Read from BloombergElizabeth Holmes Objects to $250-a-Month Victim Payments After PrisonInstant Pot and Pyrex Maker Instant Brands Files BankruptcyUS Inflation Slows, Giving Room for Fed to Pause Rate HikesPutin’s Economic Forum Puts Russia&#x2...
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Source: yahoo.com

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Spain's BBVA launches first AT-1 bonds issue since Credit Suisse crisis

MADRID, June 13 (Reuters) - Spain's BBVA said on Tuesday it reopened the market with the issuance of the first contingent convertible bond (Coco) since the rescue of Credit Suisse in March 2023. The bank said it aimed to raise between 750 million euros ($810.08 million) and 1 billion euros with this issuance. According to Refinitiv capital markets news service IFR, the issuance had already
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Source: msn.com

UPDATE 1-BBVA, Bank of Cyprus launch first AT1 euro bonds since Credit Suisse rescue

Spain's BBVA and Bank of Cyprus reopened the market with the issuance of the first euro-denominated contingent convertible bonds (CoCo) since the rescue of Credit Suisse in March, in what is seen as an attempt to restore confidence in the banks' riskiest debt instruments.
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