LONDON, May 8 (IFR) - Spain's largest bank Santander has
tightened guidance on its inaugural US dollar Additional Tier 1
bond to 6.375%-6.5%, having attracted orders in excess of
US$9bn, according to a lead manager.
The bond was initially marketed at 6.625% area via Credit
Agricole CIB, Deutsche Bank, Goldman Sachs, Morgan Stanley and
Santander's own investment banking unit.
The offering is rated Ba2 by Moody's and is expected to
price later today. The perpetual non-call five-year transaction
will have a US$1.5bn size.
(Reporting by Aimee Donnellan, Editing by Helene Durand, Julian