Bankia begins marketing euro benchmark Tier 2 bond

Tue May 13, 2014 3:27am EDT

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LONDON, May 13 (IFR) - Bankia is testing investor interest for a euro benchmark Tier 2 bond at yield of low 4%, according to a lead manager.

The bond will mature in 2024 and has a first call date scheduled for 2019. Bank of America Merrill Lynch, Bankia's own investment banking unit, Barclays, Credit Agricole CIB and Goldman Sachs are bookrunners on the deal that is expected to price later today. (Reporting by Aimee Donnellan; editing by Alex Chambers)