MADRID, 15 Nov. (EUROPA PRESS) -
CaixaBank has placed a Tier 2 subordinated debt issue for 750 million euros, with a term of 10 years and 3 months and an early cancellation option after the fifth year, as confirmed by the bank.
The initial reference price of 'midswap' plus 400 basis points has been set at 355 basis points over 'midswap', thanks to the fact that the demand has exceeded 3,200 million euros, with the participation of more than 200 institutional investors.
It is worth highlighting the participation of foreign investors, who have represented 96% of the total. The coupon has been established at 6.25%.
The underwriters of the issue were Barclays, BNP Paribas, CaixaBank itself, Citi and Société Générale.
This is the sixth issuance of bonds in public format in 2022 by CaixaBank and the first in subordinated Tier 2 format since March 2021.
With this operation, the entity optimizes and reinforces its buffers and total capital ratio by 35 basis points, up to 16.87%, reinforcing the buffer on its minimum requirement to 434 basis points, as reported in a statement.
The issue is expected to be rated 'Ba1'/'BBB-'/'BBB-' by Moody's, S