CoCo Reliance Soars as Scandinavian Banks Flock to Riskiest Debt
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The riskiest bank debt is becoming a mainstay among Europe’s safest lenders.
Svenska Handelsbanken AB last week became the latest Scandinavian bank to add additional Tier 1 capital -- a form of loss-absorbing debt -- to its issuance plan. That followed similar announcements by Swedbank AB and SEB AB. Nordea Bank AB became Sweden’s first lender to sell the notes on Sept. 16.