Investors snatch Santander’s juicy Cédulas

By Bill Thornhill
03 Jul 2019

Santander set a new milestone in the covered bond market on Wednesday with its €1.5bn 10 year, which was one of the most oversubscribed deals of this size and tenor in years.

The Spanish deal attracted demand of €3.7bn from around 130 investors giving an oversubscription ratio of 2.5 times. Over 10 accounts placed orders of more than €100m. 

Joint leads on the deal were Banca IMI, Deutsche BankNatWest MarketsNomuraand Santander.

After Rabobank's €2bn 10 year issued in January this ...

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