January 9, 2014 / 8:16 AM / in 5 years

Bankia tests investor interest for five-year bond

LONDON, Jan 9 (IFR) - Bailed-out Spanish bank Bankia is testing investor interest for a five-year euro benchmark senior unsecured bond on Thursday at mid-swaps plus 250bp area.

Bankia’s own syndicate team, Bank of America Merrill Lynch, Commerzbank, Natixis and UBS are lead managers on the transaction, which is expected to be priced later today.

In 2013, Bankia posted the biggest loss in Spanish corporate history, taking nearly EUR24bn of provisions on property loans in an attempt to wipe the slate clean. (Reporting by Aimee Donnellan, editing by Julian Baker)

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