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BNP Paribas prices $750M Additional Tier 1 bond

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BNP Paribas prices $750M Additional Tier 1 bond

BNP Paribas SA priced a $750 million international bond, Cbonds reported Dec. 9.

The Additional Tier 1 offering was launched Dec. 7 with initial price thoughts of 7.25% to 7.375%, with the guidance reduced to 6.875% after the bank received more than $7 billion of orders, Business Recorder reported Dec. 8. It was priced with a coupon of 6.75% through March 14, 2022, after which the coupon rate will change to the five-year U.S. dollar swap rate plus 4.916%.

BNP Paribas served as book runner on the deal.