Bankinter Pays Record Spread to Issue Covered Bonds
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Bankinter SA increased the record yield premium on its sale of 500 million euros ($670 million) of covered bonds in an effort to attract buyers concerned Europe’s debt crisis will saddle Spain’s banks with losses.
The Madrid-based lender priced the two-year notes at 310 basis points more than the benchmark swap rate, according to data compiled by Bloomberg. That compares with about 300 basis points when the notes were first offered, according to two people familiar with the situation.