BNP Paribas' New Dollar AT1 Bond Has Decent New Issue Premium

Dow Jones08-10

1247 GMT - BNP Paribas is marketing a new dollar-denominated additional tier 1 (AT1) bond with an initial price talk at 7.5%, with a first reset date on February 17, 2032, LSEG data show. BNP's existing dollar AT1 bonds with a call date in 2033 are quoted around 6.8%, indicating that the new AT1 bonds have a decent new issue premium with the initial price talk at 7.5%, ING's Jesse Norcross says in a note.

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