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Bankinter successfully launches an issue of senior non-preferred debentures for 500 million euros

  • The issue was targeted at institutional investors and all the securities were acquired in just four hours.

  • The placement registered a demand of 2.6 times the amount offered and reached over 1.3 billion euros.
Bankinter has successfully completed the issue of 500 million euros in senior non-preferred debentures maturing in eight years, which it placed in a record four hours. The issue offers the option of early redemption by the issuer in the seventh year.

The debt securities were targeted at institutional investors and registered a demand well above the amount offered, reaching over 1.3 billion euros, which represents 2.6 times the demand.

Bankinter issued the securities at an interest rate of midswap +175 basis points. The issue was subscribed by 95 institutional investors in total, the vast majority of them (81%) international investors.

The lead banks in the operation were, in addition to Bankinter, Crédit Agricole CIB, Deutsche Bank, Natixis and Santander. The issue was co-managed by Helaba.

Bankinter, which has no debt maturities this year, detected an opportunity in the markets to launch the issue with advantageous conditions.

Regarding its solvency and capital, the Bank's main fully-loaded CET 1 capital ratio was 12.25% at the end of June 2023, well above the minimum 7.73% required by the European Central Bank. Its total capital ratio stands at 16.2%.