CaixaBank Issues $800 Million in Convertible Stock
02 März 2023 - 9:18AM
Dow Jones News
By Ed Frankl
CaixaBank SA said late Wednesday that it has launched its fifth
issue of convertible preference shares for 750 million euros
($800.3 million).
The Spanish bank received demand of EUR2.5 billion, allowing the
coupon to reduce by 37.5 basis points to a coupon rate of 8.25%, it
said.
The bonds are perpetual, with the possibility of early
redemption from March 2029, the bank said.
The issuance, CaixaBank's third debt issue in 2023, strengthens
its solvency ratio to 15.1% for Tier 1 capital, it added.
Write to Ed Frankl at edward.frankl@wsj.com
(END) Dow Jones Newswires
March 02, 2023 03:03 ET (08:03 GMT)
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