CAIXY Caixabank (PK)

   By Ben Edwards 
 

Spanish lender CaixaBank SA (CABK.MC) is planning a benchmark-size, euro-denominated, five-year covered bond, one of the banks running the deal said Tuesday.

Suggested pricing is in the area of 220 basis points over midswaps.

BNP Paribas, CaixaBank, Citigroup, Deutsche Bank and Societe Generale are lead managers of the sale.

The bond is expected to be rated A3 by Moody's Investors Service and AA- by Standard & Poor's.

Write to Ben Edwards at ben.edwards@dowjones.com