January 16, 2013 / 7:56 AM / in 5 years

Santander takes advantage of improved sentiment with 7-yr issue

1 Min Read

MADRID, Jan 16 (Reuters) - Spain's Banco Santander, is issuing a seven-year senior unsecured bond on Wednesday, IFR Markets, a Thomson Reuters news and market analysis service, reported on Wednesday.

Several Spanish companies have taken advantage of better investment sentiment since the beginning of the year to raise money on the markets after being shut out for most of 2012 when investors fretted over Spain's finances.

Spain's third-biggest lender Caixabank, utility Gas Natural, bank BBVA and Europe's biggest telecoms company by revenue, Telefonica, have all raised funds since the beginning of the year.

Spain's biggest bank mandated Goldman Sachs International, Santander GBM, Societe Generale CIB and UBS Investment Bank to manage the issue, initially expected to price at 275 basis points over mid-swaps.

IFR said Santander's issue was expected to be completed on Wednesday. (Reporting by Clare Kane; Editing by Paul Day and Hans-Juergen Peters)

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