October 18, 2012 / 9:46 AM / 5 years ago

Bankinter to sell 3yr bond as earnings half

LONDON, Oct 18 (IFR) - Second-tier Spanish bank Bankinter, rated A3 by Moody’s and A by S&P, is testing investor interest for a three-year euro covered bond at mid-swaps plus 355bp area on Thursday.

Lead managers Bankinter, JP Morgan, Natixis and Nomura told IFR that indications of interest are so far very strong for the EUR500m no-grow transaction.

Bankinter reported a halving in nine-month earnings earlier on Thursday, setting the tone for a sector still suffering the impact of a government-forced clean-up of toxic real estate assets. (Reporting by Aimee Donnellan; Editing by Natalie Harrison)

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