October 25, 2020

Bankinter completes an issue of 500 million in five-year senior debt

Bankinter completes an issue of 500 million in five-year senior debt


MadridUpdated:

Bankinter starts the year again by going to the debt market to finance itself. The entity led by María Dolores Dancausa has launched an issue of 500 million euros in five-year non-preferred senior bonds that will close today, according to market sources. This issue will serve the bank to cover the anti-crisis cushion of own resources that supervisors and regulators demand.

The initial price of the issue, which Bankinter has entrusted to a group of placement banks formed by Bankinter, Barclays, BBVA and Natixis, has been set at the usual reference ("midswap") plus 95 basis points.

The placement is exclusively aimed at professional or institutional investors, as it is senior senior debt computable for the purposes of the minimum requirements of own funds and liabilities (MREL, for its acronym in English) that financial institutions must accumulate and with which respond to a possible situation of bankruptcy.

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