Banco Comercial Portugues (GB:0RJN) has released an update.
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Banco Comercial Português, S.A. has announced a successful issue of €500 million in senior preferred debt securities, with strong investor demand tripling the offer amount. The 5-year securities, which are eligible for MREL compliance, feature a 3.125% annual interest rate for the first four years and a 3-month Euribor plus 0.85% for the fifth year, with an early redemption option after four years. The favorable market response and investor interest led to a 30 basis point spread reduction during the issue’s execution.
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