Banco Santander launches five-year senior-preferred deal

On 20 September, Banco Santander (A/A2/A-) launched a new, five-year,senior-preferred, Australian dollar denominated deal. The forthcoming transaction will come in either or both fixed- and floating-rate formats and has indicative price guidance of 125 basis points area over swap benchmarks. Pricing is expected on the day of launch, according to lead managers Nomura and TD Securities.