Tier 1 debt A new target

credit of the month

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There were two landmark deals in the tier 1 bank debt sector last December: Barclays Bank and Allied Irish Bank brought innovative tier 1 deals that were specifically targeted towards institutional investors.

Spreads are locked tight across the market, and so the kind of high-rated, yieldy paper that tier 1 offers is especially attractive. With the eyes of real-money credit buyers turned on the sector, Credit asked financials analysts to give us their thoughts about tier 1.

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