Hola GG! Galicia to follow Bancaja and Caixa Catalunya
Spanish banks are swooping on the government guarantee extension from three to five years. Caja Galicia is expected to issue a five year deal imminently, while Caixa d’Estalvis de Catalunya and Caja de Ahorros de Valencia Castellon y Alicante (Bancaja) received overwhelming demand for their respective Eu1.5bn five year issues.
Caixa Catalunya priced its deal on Thursday. Calyon, Deutsche Bank, Goldman Sachs, HSBC and UBS built a book of Eu3.25bn comprising 115 orders.
"The Bancaja deal paved the way," said a banker at one of the leads. "So it is no surprise it was also well received."
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