Popular Places €1,500M 6-Year Mortgage Bond Issue

26 February 2016 – Cinco Días

Banco Popular has issued €1,500 million in mortgage bonds with a six year term and a price of 88 points above the mid-swap rate. Demand for the bonds has exceeded €2,800 million, according to market sources.

This is the first debt issue that the entity led by Ángel Ron has completed in 2016. Last year, the bank issued debt amounting to €5,050 million in total.

Popular’s most important debt issuances in 2015 included: the issue of senior debt amounting to €500 million, of which 74% was acquired by international investors; €3,000 million in bonds with interest rates that were “historically low” for the entity; and €750 million in Additional Tier 1, which was placed entirely with qualifying international investors within just a few hours.

Original story: Cinco Días

Translation: Carmel Drake

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