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UPDATE 1-Santander ends Spain bank unsecured debt freeze-IFR
August 21, 2012 / 3:32 PM / 5 years ago

UPDATE 1-Santander ends Spain bank unsecured debt freeze-IFR

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MADRID, Aug 21 (Reuters) - Santander sold a new two-year, two billion euro ($2.47 billion) unsecured bond on Tuesday, becoming the first Spanish bank in six months to offer this type of debt, IFR Markets, a Thomson Reuters news and market analysis service, reported.

IFR said Banco Santander offered investors a 4.375 percent coupon for a two-year, senior unsecured bond that priced at 390 basis points over mid-swaps, 5 basis points tighter than originally marketed, having raised 3 billion euros.

Banco Santander, CA CIB, Deutsche Bank, Natixis acted as lead managers.

The last senior issue for a Spanish bank was in March with a 1 billion euro five-year bond offered by Santander.

One of Europe’s biggest retail banks, Santander has seen its share price hit by concerns over Spanish sovereign debt, but its international operations from Britain to Latin America have helped it to distance itself from the troubled Spanish banking sector.

Spain has asked for up to 100 billion euros ($123.41 billion) in aid for its banks, hit by heavy exposure to its soured property market, but Santander is not expected to require any. ($1 = 0.8103 euros) (Reporting by Julien Toyer and Clare Kane; Editing by Helen Massy-Beresford)

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