Guarantor: Banco Santander Central Hispano SA
Rating: Aa3/A+/AA-
Amount: Eu1bn
Maturity: 22 February 2008
Issue/re-offer price: 99.883
Coupon: three month Euribor plus 5bp
Spread at re-offer: three month Euribor plus 9bp
Launch date: Thursday 3 February
Payment date: 22 February
Joint books: Citigroup, Goldman Sachs, Royal Bank of Scotland, Santander Central Hispano, SG
Bookrunner's comment:
Goldman ? We issued Eu1bn of a three year that complemented the Eu2bn cédulas issue last week. Given the strong bid in the front end of the senior bank market we decided that this would go well. And this was despite Santander having done a Eu1.5bn three year in December and a Eu1bn five year in January, and now this Eu1bn three year in February.
To generate Eu1.25bn at price guidance of 9bp over Euribor surpassed our expectations.
This incremental Eu1bn financing makes Eu3bn by Santander in the past week.
