LONDON, May 8 (IFR) - Spain's largest bank Santander is
poised to price a USD1.5bn Additional Tier 1 bond with a yield
of 6.375%, according to a lead manager.
Orders for the perpetual bond, which is callable after five
years, are now in excess of USD10bn.
The bond was initially marketed at 6.625% area, before
guidance was tightened to 6.375%-6.5% as orders topped USD9bn.
Credit Agricole CIB, Deutsche Bank, Goldman Sachs, Morgan
Stanley and Santander's own investment banking unit will price
the deal later today.
(Reporting by Aimee Donnellan, Editing by Helene Durand, Julian