Regional banks frozen out of EMTNs
Eurozone periphery banks’ privately placed Euro-medium term note yields have tumbled over the past few weeks as investors have returned to the paper. But many buyers are still cautious of holding unsecured debt from anything other than national champions, dealers said this week.
Santander raised 200m of one year cash at 81bp over three month Euribor late last week the first time it had paid less than triple digits over the benchmark rate for one year paper for more than two years, according to Dealogic.
Just two weeks ago the Spanish
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