March 18, 2022 |
The Mexican branch of Spanish bank Santander plans to raise up to MXN10 billion ($487 million) in a two-part bond sale in the local market this year, Moody's said in a report on Thursday.
Santander expects to price five-year certificados bursátiles bancarios, or CBBs, with a floating rate and seven-year CBBs with a fixed rate as part of a MXN50 billion bond program, according to Moody's.
Moody's assigned the notes a Baa1 rating, based on support from the parent company in case of default.
Spanish bank's local branch plans to raise $485 mln in a two-part deal