Santander Defies Spain Woes to Sell First Bonds Since March
This article is for subscribers only.
Banco Santander SA raised 2 billion euros ($2.5 billion) from the first sale of senior unsecured bonds by a Spanish bank in more than five months.
Spain’s biggest lender tapped debt investors as the nation’s government prepares to hash out terms for the 100 billion-euro bailout of its financial system. Spanish banks posted record losses of 10.7 billion euros in the first half as provisions for bad loans surged, the Bank of Spain said Aug. 17.