Community banks have tapped that debt markets at torrid place in recent months, building capital levels for insurance and flexibility to take advantage of opportunities that could arise amid economic fallout from COVID-19, according to two members of Performance Trust Capital Partners. In the episode, Daryle DiLascia, partner and head of investment banking at Performance Trust, and Brian Leibfried, co-head of client insights and analytics at the firm, discuss what has driven the surge in subordinated debt issuances by community banks, which have nearly matched the levels seen in the full-year 2019, with 80% of the transactions coming in the last three months. The two advisers also highlight how their firm has landed the advisory role in many of the transactions, the coupons associated with the deals and why investors like asset managers, banks and insurance companies find the paper attractive.
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