Untested Banks Find Demand for Risky AT1 Bonds
A Metro Bank Holdings Plc bank branch in Chelmsford, UK.
Photographer: Chris Ratcliffe/BloombergInvestors are so eager to buy the riskiest bank debt that they’re snatching up securities even from unproven borrowers.
A UK bank rescued from collapse less than two years ago, a lender to small businesses and an online loan provider are among a swathe of firms selling their first Additional Tier 1 bonds this year.