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Subjects / Capital

European AT1 borrowing costs reach highest level in a decade

Marie Kemplay | February 6, 2023

Coupon rates for newly issued contingent convertible bonds (CoCos) from European banks reached an average of 7.8% during the third quarter of 2022 and 9.8% during the fourth quarter – the highest level since the third quarter of 2011, according to a report from the Association for Financial Markets in Europe (AFME).

 

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