FIG

摘要

Skandinaviska enskiloa banken's US$600m Additional Tier 1 trade was more than five times subscribed, a sign of the strong demand for an asset class where supply remains light despite decent performance this year. Over 250 investors stumped up more than US$3bn of orders for the perpetual non-call five, which priced on Thursday. The bonds priced at par to yield 5.625%, well inside 6% area initial price thoughts and just wide of the mid-fives level pegged by a lead as fair value.