Spain's Popular issues 426 mln eur of pref shares
MADRID March 24 |
MADRID March 24 (Reuters) - Spanish bank Banco Popular (POP.MC) said on Tuesday it had raised 426 million euros from the issue of preference shares in the bank.
The preference shares give an annual coupon of 6.75 percent for the first five years from the issue and three-month euribor plus 1.5 percent or a minimum of 4 percent for subsequent years, Popular said.
The issue is rated A+ by Fitch ratings agency and A- by Standard and Poors, the bank said. (Reporting by Jonathan Gleave, editing by Will Waterman)
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