Caja Madrid, Spain’s 4th largest Caja ( savings bank), today announced they are offering Preferential shares at a guaranteed return of 7% for first 5 years.
Given current interest rates this is a huge return being offered and suggests Caja Madrid urgently need liquidity and to bolster up their balance sheet. Great investment as long as Caja Madrid survive but the offer smacks of desperation. Still could be a self prophecy as if they do attract significant funds it could ensure their survival. It will be interesting to see how many people take up the offer.
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