Spain's Bankia plans 5-year senior unsecured euro bond

Wed Jan 8, 2014 8:31am EST

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LONDON, Jan 8 (IFR) - Bailed-out Spanish bank Bankia has hired banks for a five-year euro-denominated senior unsecured bond in benchmark size.

Bankia, BAML, Commerzbank, Natixis and UBS have been mandated on the deal.

In 2013, Bankia posted the biggest loss in Spanish corporate history, taking nearly EUR24bn of provisions on property loans in an attempt to wipe the slate clean.

(Reporting by Owen Sanderson, editing by Alex Chambers)

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