Bankinter successfully launches an issue of subordinated debentures for 200 million euros

Bankinter has successfully carried out an issue of Tier 2 or Tier 2 capital subordinated debentures for a total amount of 200 million euros. The placement was closed in just three hours.

This is an issue of fixed income securities intended for institutional investors, with the possibility of early redemption starting in March 2029.

Demand was well above supply, reaching 390 million euros, which represents 1.9 times the amount offered.

Bankinter has issued these securities at a mid-swap interest rate of +235 basis points. The issue was subscribed by 57 institutional investors in total, the vast majority of them (84%) international investors. The coupon will be paid annually every 25 June.

The leading banks in the transaction, in addition to Bankinter, were Barclays and Deutsche Bank.

Bankinter carried out this issue after detecting an opportunity in the markets to realise it under more advantageous economic conditions. 

Regarding solvency and capital, the Bank's main fully-load CET 1 capital ratio was 12.3% at the end of 2023, well above the minimum 7.73% required by the European Central Bank. Its total capital ratio stands at 16.1%.