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Report: Bankinter launches AT1 bond

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Report: Bankinter launches AT1 bond

BankinterSA began marketing an Additional Tier 1 bond as appetite for riskybank debt increases, InternationalFinancing Review reported April 28.

The bank, which met investors on a road show April 27, ismarketing bonds that can be converted into equity if its CET1 ratio falls below5.125%. Initial talks for the €200 million no-grow perpetual noncall five-yearbond are in the 9% yield area, the newswire reported.

Bank of America Merrill Lynch, JP Morgan and Bankinter's ownsyndicate were mandated for the deal, according to the report.

Bankinter'sacquisition ofBarclays Plc'sPortuguese banking business is being partly funded through the issuance of a€200 million bond, a spokesman for the bank reportedly said.