Abanca sets mandate for €300 million junk-rated tier 2 bank capital

By Paul A. Harris

Portland, Ore., Sept. 24 – Spain-based Abanca Corporacion Bancaria SA mandated BBVA, BNP Paribas, BofA and Nomura as joint lead managers for a €300 million offering of 10.5-year tier 2 bank capital (expected ratings Ba3//BB+), according to a market source.

A roadshow for the Regulation S offering was set to begin on Tuesday, the source said.

The transaction is subject to market conditions.

The prospective issuer is a Galician-based banking company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.