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Banco Santander (SAN) wastes no time taking advantage of the quick turn in European sentiment,...

Banco Santander (SAN) wastes no time taking advantage of the quick turn in European sentiment, offering €2.5B of 3.5 year paper, and hoping to price it at the same yield it sold 2-year notes for a month ago. Order books closed with €6B in bids from about 400 accounts. Shares +3.2% premarket.
Comments (3)
  • fmarone
    , contributor
    Comments (15) | Send Message
    Most people fail to recognize that SAN has a enviable position in countries in South America that are doing extremely well. This move confirms my confidence in their management.
    7 Sep 2012, 09:09 AM Reply Like
  • TJ Schoenlein
    , contributor
    Comments (412) | Send Message
    Banco Santander (san) is arguably the best run bank in Europe in my view. It has been punished for being a Spanish bank at the wrong time. I would suggest some serious due diligence, then take a position...there is some serious money to be made here.
    Long: SAN, CS,BAC,C
    7 Sep 2012, 10:12 AM Reply Like
  • Caiman Valores
    , contributor
    Comments (1492) | Send Message
    TJ and fmarone I agree with your sentiments. Along with BBVA it is one of the best managed banks in the world with an enviable share of the Latin American market.
    8 Sep 2012, 02:05 AM Reply Like
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