Santander gets solid execution for first Pfandbrief

Santander 230x150
By Bill Thornhill
28 Nov 2017

Santander Consumer Bank managed to attract a comfortably oversubscribed order book for a tightly priced, sub-benchmark debut Pfandbrief on Tuesday.

After roadshowing last week, the debut issuer mandated LBBW, Natixis, UniCredit and its own syndicate on Monday for deal execution on Tuesday.

Leads priced the €250m no-grow deal at 11bp through mid-swaps, from 9bp through initially, with orders of €380m. The whole process was ...

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