Santander drafts Mexican bonds

Santander drafts Mexican bonds

Corporate & Sovereign Strategy Bonds Debt Fixed Income Capital Markets Mexico Spain

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. "Santa

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