MADRID, 8 Mar. (EUROPA PRESS) –
CaixaBank has received an excess demand of 9.3 billion dollars in its second placement of a double tranche of debt in dollars in the US market for a total amount of 2 billion, as reported by the entity.
Firstly, the bank has placed $1 billion in an eleven-year senior non-preferred bond, with an early amortization option in the tenth year. The starting price was 220 basis points above the US Treasury benchmark index (IPT).
However, the high demand received, of 9.3 billion dollars for both sections, has allowed the price to be lowered by 25 basis points to 195 points above the IPT. The coupon has been set at 6.037%.
At the same time, CaixaBank has placed another senior non-preferred bond with a shorter maturity period, six years, with an early repayment option in the fifth year.
In this case, 1,000 million dollars have also been placed, with a price of 160 basis points above the IPT, 27.5 points below the starting price, which was IPT plus 187.5 basis points, thanks to the high demand. The coupon of this bond has been set at 5.673%.
This is CaixaBank’s third issuance in dollars in the American market, after the placement of a senior non-preferred bond of 1,250 million dollars in January 2023 and the double senior non-preferred tranche of 2,000 million dollars in September 2023.
In this way, the entity continues with its objective of diversifying the investor base, which allows it to reduce financing costs and increase its ability to appeal to the market.
With this issue, CaixaBank continues to strengthen its position of ‘bailable’ liabilities, which are “comfortably” above the MREL requirement planned for January 1, 2024, and reaffirms the bank’s commitment to continue building the liquidity cushion. ‘bail-inable’ debt that increases the protection of senior creditors and depositors.
The entities in charge of the placement were Barclays, BofA Securities, CaixaBank, JP Morgan, Morgan Stanley, RBC and Wells Fargo.
So far this year, CaixaBank has carried out four public issues in euros, Swiss francs and dollars, in different types of assets (senior preferred, senior non-preferred and AT1) as part of its regular financing plan.
