Cores adds to tide of oil stockholder issuance
Corporacion de Reservas Estrategicas de Productos Petroliferos (Cores), the agency charged with managing Spain’s strategic oil reserves, has mandated banks to arrange investor meetings ahead of a possible syndicated bond. A deal will add to the recent spate of issuance from similar agencies, such as Austria’s Erdoel-Lagergesellschaft which sold its debut syndicated trade on Monday.
BBVA, BNP Paribas, Crédit Agricole and HSBC have been hired to take the issuer on a European roadshow, beginning on March 15. The issuer will visit Madrid on Friday, Paris on Monday, Frankfurt on Tuesday and London on Wednesday.
The issuer will likely bring a 500m seven or 10
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