Santander is marketing €1.33 billion ($1.45 billion) of notes backed by a portfolio of Spanish residential mortgages.

The portfolio backing the transaction, FT RMBS Santander 5, totals €1.36 billion of Spanish mortgages, most of which have previously been in arrears. In June the Spanish bank sold €3.09 billion of notes backed by a pool of high LTV Spanish loans under the trust.

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