Raiffeisen Finalizes AT1 Sale After Failed Deal in March (2)

Raiffeisen Bank International AG successfully raised new capital to replace an Additional Tier 1 bond more than six months after an earlier deal failed due to the lender’s struggle to exit its Russian operations.

The Austrian bank priced€650 million ($685.6 million) of new AT1 bonds on Monday, with the coupon set at 7.375%, down from initial price talks of around 7.75%, according to a person familiar with the matter, who asked not to be identified. Investor bids were over €870 million, the person added.

Raiffeisen is also offering to buy back an older issue for the same amount at ...