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-Bankinter to sell EUR7bn of promissory notes.

M2 EQUITYBITES-November 4, 2011--Bankinter to sell EUR7bn of promissory notes(C)2011 M2 COMMUNICATIONS

4 November 2011 - Spanish lender Bankinter (MCE:BKT) will offer 12-month promissory notes in an aggregate amount of EUR7bn (USD9.7bn).

The promissory note programme, which was registered on Thursday with the stock market regulator CNMV, can be upsized by EUR3bn. It follows a similar plan for EUR5bn of promissory notes launched in July.

The interest rates on Bankinter's two-month and six-month promissory notes are 3.25% and 3.8%, respectively, sources at the bank said. Notes due in nine, 12 or 18 months offer interest rates of between 3.85% and 4%.

Other domestic banks including Santander (MCE:SAN), Banesto (MCE:BTO), BBVA (MCE:BBVA), La Caixa and Banco Popular (MCE:POP) are also selling 12-month promissory notes with interest rates of between 3.4% and 3.75%.

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Publication:M2 EquityBites (EQB)
Date:Nov 4, 2011
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