Santander comes under fire for unguaranteed FI bonds blemish

09 Apr 2009

Santander left a sour note in the unguaranteed bank bond market this week and faced harsh criticism from market participants when it priced a Eu1.25bn two year fixed issue via BNP Paribas, Bank of America Merrill Lynch, Natixis and Santander.

The issuer was slammed for its approach to the bond investor community and the too-tight pricing in a sensitive market that is in great need of tender loving care, and the trade took the gloss off successful deals for Compagnie Financière du Crédit Mutuel and Zurich Finance.

"This was ...

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