Bankia offers covered bond buyback of up to 750mn eur

MADRID: Rescued Spanish lender Bankia said on Friday it was offering to buy back up to 750 million euros ($980.5 million) of covered bonds.

The part-nationalised bank, which this week reported losses of 19.2 billion euros for 2012, said investors had until March 12 to take up the offer. Bankia, Deutsche Bank and JPMorgan are managing the offer.