Spain's Sabadell to begin repaying LTRO loans in January

MADRID Fri Jan 11, 2013 8:21am EST

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MADRID Jan 11 (Reuters) - Spain's fifth-biggest bank Sabadell will repay in January 10 to 20 percent of the 24 billion euros ($32 billion) it took out in three-year cheap financing from the European Central Bank (ECB) in December 2011 and February 2012, a source at the bank said on Friday.

"We will begin paying back a symbolic sum of between to 2.4 billion to 4.8 billion euros in January to show that we have other sources of funding rather than just the ECB," the source said, speaking on condition of anonymity. ($1 = 0.7568 euros) (Reporting By Jesús Aguado; Editing by Sonya Dowsett)

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