Banco Sabadell has today completed the issuance of 1,000 million euros in fixed-term covered bonds directed at both domestic and international institutional investors.

The issue was filled in just two hours and saw demand exceeding 3,400 million, with a five year maturity and a spread of 250 basis points, below the Treasury's price for financing itself during the same term. It was placed by Deutsche Bank, Santander, JP, Calyon and Banco Sabadell.

More than 200 institutional investors have taken part in the operation, with major participation levels reached in Spain, Germany, UK and France. The main investors taking part in the issue are financial institutions, central banks, investment funds management companies, insurance companies and pension funds.

The redemption of this issue will be effective on 23 January and its launch forms part of the non-equity securities programme of Banco Sabadell registered with the Comisión Nacional del Mercado de Valores.

Banco Sabadell's solvency and its reputation in the international markets have clearly been factors that have contributed towards the success of this placement.

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