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.