March 24, 2014 / 10:57 AM / 4 years ago

Santander Totta plans three-year euro covered bond

LONDON, March 24 (IFR) - Banco Santander Totta mandated five banks on Monday to manage a three-year covered bond, that is expected to be rated Baa3/BBB by Moody’s and Fitch.

The Portuguese lender, which is part of the Santander group, has mandated Bank of America Merrill Lynch, BNP Paribas, CACIB, Santander and UniCredit for the Obrigações Hipotecárias deal which will be priced in the near future, subject to market conditions. (Reporting by Helene Durand; editing by Alex Chambers)

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