March 23, 2017 / 11:09 AM / in 4 months

Books over €1.5bn for Caixa Geral de Depositos AT1 bond

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LONDON, March 23 (IFR) - Books have passed €1.5bn for Caixa Geral de Depositos' €500m no-grow perpetual non-call five-year Additional Tier 1 bond, according to a market source.

Initial price thoughts remain at 11% to 11.5% coupon.

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 Sudip Roy)

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