Santander UK targets FRN buyers in widening market

Tyler Davies

March 20, 2018 01:00 pm

Santander_PA_230x150_200318 — Blue to red, Barclays replaced by Santander as bike sponsor.London's Boris bikes have been painted red under a seven-year sponsorship deal with Santander worth around £7m a year that began in April 2015 as seen photographed here on April 5, 2015. The service has 11,500 bicycles, operated from 742 stations distributed across the City of London and London boroughs. Santander will pay £6.25m a year for the rights and contribute a further annual £1m to promote and grow the scheme. Barclays Bank was the first sponsor from 2010 to March 2015, when the service was branded as Barclays Cycle Hire. - NEWZULU/DAVID MBIYU | DAVID MBIYU/PA Images

Santander UK Group raised €750m of floating rate notes (FRNs) in the euro market on Tuesday, as credit spreads struggled to perform on the back a recent surge of bank bond supply.

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Tyler Davies