Orders amount to 750 million euros. The interest rate should be around 1.5%.
BCP is in the market for a senior debt issue, the first since 2014. The bank led by Miguel Maya intends to raise 500 million euros with these securities, and demand is already above that level. Interest is around 1.5%.
The Portuguese bank intends to place these securities in order to strengthen its ratios within MREL. The debt issue, maturing in 2027, has a value of 500 million euros, and this value will not change even as demand increases.
IFR data reveal that the operation carried out by BCP is being successful. There are already orders amounting to 750 million euros in this senior debt issue.
In addition to the significant demand in this operation, the low cost of these securities should also be highlighted. Market data indicate these securities can pay 180 basis points above the mid-swap rate in the Euro Zone. As this is negative by about 0.3%, the interest could be around 1.5%.