Liberbank looks at retail swap

12 Jun 2012

Spain’s Liberbank is seeking permission to buy back all its retail targeted subordinated debt at par. But the deal would come with a twist: bondholders would have to keep all the proceeds in a fixed term savings account at the bank for four years.

The savings bank group is seeking official sign-off on the offer, which would target 13 securities totalling almost €550m. Once they get that, they expect to offer bondholders two months to decide whether to participate.

The interest rate the bank will offer on the fixed term deposits has ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial