Iberian credit back in fashion?
Instituto de Crédito Oficial and the Republic of Portugal issued Eu150m and Eu110m, respectively, of puttable floating rate MTNs to international investors this week, as Kingdom of Spain and ICO sold bonds in the public market. While tapping international demand in size was impressive, puttable structures are highly conservative. Read EuroWeek this week to find out whether Iberian credits are back in demand in the MTN market, or whether investors will remain wary.
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