Abbey National Treasury Services Plc, a unit of Banco Santander SA (SAN), sold $1 billion of five-year bonds in its largest dollar offering in more than two years.
The lender issued 3.05 percent securities guaranteed by Santander U.K. that yield 155 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg. Proceeds will fund general corporate purposes, according to a regulatory filing.
Abbey sold $2.5 billion of dollar-denominated bonds on April 20, 2011, Bloomberg data show. Its $1 billion of 4 percent securities due 2016 and ranked A2 by Moody’s Investors Service initially paid 190 basis points more than Treasuries.
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