LONDON, Aug 21 (IFR) - Banco Santander, rated Baa2/A-/BBB+, priced the first senior unsecured public bond issue from a Spanish bank in six months on Tuesday afternoon.
The Spanish lender offered investors a 4.375% coupon for a two-year senior unsecured bond that priced at 390bp over mid-swaps with Banco Santander, CA CIB, Deutsche Bank, Natixis acting as lead managers.
The deal was initially marketed at 395bp area over mid-swaps but guidance was tightened by 5bp on the back of a EUR3bn book. It is the first Spanish senior issue since a EUR1bn five-year trade priced in March by the same issuer. (Reporting By Aimee Donnellan, Editing by Helene Durand)