Santander Bond Risk Rises to 3-Month High on Funding Concerns
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The cost of insuring against default on bonds sold by Banco Santander SA rose to the highest in three months on concern Spanish lenders may struggle to fund themselves amid the country’s deficit crisis.
Credit-default swaps tied to Santander’s senior debt increased 1 basis point to 240, the highest since March 11, according to CMA. The contracts are up from 233 on May 31, when the bank said it was selling public sector covered bonds, and compares with 165 basis points April 11.