Bond issues stumble on liquidity drought – Aviva treasurer
Insurer’s £500 million RT1 notes narrowly avoid market freeze as ECB ends asset purchases
The treasurer of a large UK insurer says he is uncertain when capital markets will be calm enough to safely absorb new debt issuance, after a £500 million ($607 million) bond crossed the line just a day before volatility and scant liquidity derailed primary markets.
New subordinated capital notes from Aviva were announced on June 8, the day before the European Central Bank (ECB) said it would end net buying under its asset purchase programme as of July 1, and hike rates at the July monetary
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