Santander calls infamous AT1 and blows out with new issue

By Tyler Davies
09 Jan 2020

Investors placed €10bn of orders behind a new additional tier one from Banco Santander on Thursday, as the Spanish bank put an end to a long-running drama over its redemption policy by calling a bond it extended multiple times in 2019.

Santander said that it had hired Barclays, BNP Paribas, Crédit Agricole, HSBC, JP Morgan and Santander to arrange the sale of a perpetual non-call six year AT1 in the euro market.

At the same time it also signalled its intention to ...

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