Is market practice still that callable bonds are called at first call date?

Is it still market practice to call callable bonds at the first call date or did markets significantly change after Deutsche Bank unexpectedly decided not to call in 2008?

I would have thought it depends on the bond in question. If it’s going to be more expensive for the issuer to refinance then as a rule I would have thought they wouldn’t call. Although perhaps there is value in calling even if it is a little more expensive in the short term if that is what the market expects - i.e. leaves you in a better long-run position to issue callable bonds in the future.

I’m no bond expert though. Currently invested in a couple of AT1 bonds that I am expecting to be called in 3-4 years, so hopefully no surprises with those!

are bonds trading below par, prob wont call

Depends on the interest rate. . .

haha prolly this since if it is trading below par, they would conduct omp but if they are trading below par they must have liquidity issues and won’t be able to

Most bonds trade to first call