25th January 2019

BCP AT1 high coupon and high risk | Bank Capital Insights

BCP re-opens the EUR AT1 market – valuation thoughts Who would have imagined that the first AT1 deal of 2019 would come from a Portuguese Bank and that on the day of the ECB meeting?  BCP, Portugal’s largest private sector bank issued its debut EUR AT1 paying a coupon of 9.25% for a Perp NC5 structure […]
Subscribers can log in to continue reading. Otherwise, purchase The Monthly Access Pass or One Year Subscription to become a subscriber.

GJ Prasad

A senior European bank research specialist with significant breadth/in-depth sector knowledge, GJ has researched bank capital instruments extensively - having covered the asset class for more than 15 years as an analyst and 7 years as a risk taker in buy-side roles. His specialisation includes carrying out detailed financial modelling work on the European banks focusing on asset quality, earnings and capital adequacy metrics. His deep-dive work focuses on single name selection and extensive risk analysis on capital securities, especially on structural features, issuer credit profile and equity/AT1 valuation.