Santander bought Portuguese debt as part of Banif deal

February 25, 2016 3:13 PM

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LISBON Feb 25 Santander Totta, the Portuguese subsidiary of Spain's banking giant Santander said on Thursday it bought 1.77 billion euros in Portuguese medium-term notes on Monday as part of a deal agreed with Lisbon to capitalise troubled bank Banif.

"By accepting to do so, Santander Totta only sought to respond to the challenge of contributing to diminishing the state financing effort," the bank said in a statement, denying media reports that it bought the debt in early February when Portuguese bond yields spiked to their highest since 2014.

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