February 11, 2025 08:26 GMT
FINANCIALS: Raiffeisen Bank - New Issue - €500m WNG 7NC6 Sr Pref - FV
FINANCIALS
- IPT: MS+160
- FV: MS+130 - 20bps wide of the RBIAV 3.875% 2030. While a +130 level might look wide towards vs most of the RBIAV Sr Pref bonds, we have to anchor our FV on the recently issued RBIAV 3.875% - we move the whole curve up +10bps as a result.
- Exp. Ratings: A1 (Moody's)
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