Santander wastes no time with senior non-preferred TLAC debut

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions

Santander wastes no time with senior non-preferred TLAC debut

Santander_AP_230x150
In this Dec. 15, 2008 file picture a man walks near the entrance of a Spain's Banco Santander office in Madrid. Santander, Spain's biggest bank and the eurozone's largest by market capitalization, said that net profit dropped to €2.23 billion ($2.9 billion) between April and June compared to €2.42 billion for the same period last year.(AP Photo/Daniel Ochoa de Olza) | Daniel Ochoa De Olza/ASSOCIATED PRESS

Santander has become the first Spanish lender to raise non-preferred senior debt, even though Spanish law cannot yet accommodate the new asset class. The bank paid a small premium, and took an important early step towards its sizeable senior target for total loss-absorbing capacity (TLAC).

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request a Free Trial or Login
Gift this article