Santander pushes non-preferred drive into dollars
Banco Santander ratcheted in pricing on three tranches of non-preferred senior debt on Tuesday, raising $2.5bn in its first dollar-denominated deal in the format.
Santander put out initial price thoughts of Treasuries plus 220bp area on the $1bn 10 year non-preferred senior bond, which was the longest dated tranche on offer.But the issuer was able to revise pricing by 20bp, through guidance of 205bp area, to establish a final ...
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