Bankinter successfully places an AT1 debt-security issue for 300 million euros
With this issue, the bank can redeem the shares quarterly with the relevant authorisation, starting in six years' time.
It closed with a demand of 3.4 billion euros, which is more than 11 times the amount issued.
Today, in the space of just three hours, Bankinter incredibly placed an issue of perpetual, contingent debt securities that can be converted into shares and are classified as Tier 1 capital, on the market for 300 million euros
The issue registered a demand of more than 3.4 billion euros, representing more than 11 times the amount offered, and has a coupon of 7.375%, which is below the initial indication of 8%.
With this issue, the bank can redeem the shares issued quarterly with the relevant authorisation, starting in six years' time.
The debt was placed among 271 institutional investors, 90% of which are international.
The underwriter banks for this transaction have been Bankinter, Barclays, Crédit Agricole, Goldman Sachs Europe and Natixis.