Bankia to raise capital buffers with Tier 2 bond

Mon May 12, 2014 4:22am EDT

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LONDON, May 12 (IFR) - Bankia is poised to beef up its capital buffers with the sale of a euro-denominated 10 non-call five-year Tier 2 bond, according to a lead manager.

The Spanish lender has hired Bank of America Merrill Lynch, its own investment banking unit, Barclays, Credit Agricole CIB and Goldman Sachs to sell the deal, which is expected to be rated B- by S&P and launched in the near future subject to market conditions. (Reporting by Aimee Donnellan, editing by Anil Mayre)