Banco Santander has gone to the markets today to issue two non-preferred senior debt bonds, with the aim of partially covering its short-term financing plans, as Europa Press has been informed by financial sources.

The final amount of the issue will depend on market appetite, since the bank and its placement entities are building the order book.

This is the first issuance of senior non-preferred debt by Santander so far this year and will be eligible debt under the umbrella of the banking ‘anti-crisis cushion’, the minimum requirement of own funds and eligible liabilities (MREL, for its acronym). in English).

The first issue will have a maturity of four years and cannot be redeemed early until the third year of the bond’s life. The initial price is estimated in the market in the ‘mid-swap’ environment plus a spread of 115 basis points.

The other issue will have a maturity of eight years, and in this case the price is estimated in ‘mid-swap’ along with a difference of 150 or 155 basis points.

The issues are aimed at professional investors and the denominations will be 100,000 in 100,000 euros. Santander itself acts as global coordinator, while the underwriters are ING, Natixis, NatWest, Nomura, Société Générale and UniCredit.