BPE first Spaniard to take senior bait
FIG bankers have been trying to convince Spanish banks to hit the senior unsecured market for several weeks, and have finally succeeded with Banco Popular Espanol launching a short deal on Wednesday morning.
The Ba3/BB+ rated borrower hired Credit Suisse, Deutsche Bank, JP Morgan and Natixis to join its own investment bank on the syndicate, and put out initial price thoughts in the 235bp-240bp area over mid-swaps for a 2.5 year bond.
Among the five senior unsecured bonds in euros vying
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