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LONDON, March 23 (IFR) - Portugal's Caixa Geral de Depositos is marketing a €500m no-grow perpetual non-call five-year Additional Tier 1 bond at an 11% to 11.5% coupon, according to a lead.
The deal, expected to be rated B- by Fitch, will price later on Thursday via joint leads managers Barclays, Caixa - Banco de Investimento, Citigroup, Deutsche Bank and JP Morgan.
The bonds will be written down on a temporary basis should the bank's Common Equity Tier 1 fall below 5.125%.
Reporting by Alice Gledhill, Editing by Helene Durand