Spain loses over €75bn of orders after ‘shocking’ price move

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Spain loses over €75bn of orders after ‘shocking’ price move

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Geldscheine und Münzen vor der Nationalflagge Spaniens | Boris Zerwann/Zerbor - stock.adobe.com

In a dramatic and unprecedented turn of events on Wednesday, Spain went from being on track to attract the biggest ever order book for a bond issue to losing more than half of its orders, as it slashed the spread of its new 10 year syndicated bond, leaving either a negative or very skinny new issue premium.

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