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)