Iberdrola and Banesto: an experiment in symbiosis
Iberdrola, the Spanish utility, has set up a new MTN programme to issue structured notes — something very rare for a corporate issuer. Remarkably, it is outsourcing the treasury function for the programme to Banesto, one of its relationship banks. The initiative’s success is by no means certain, but if it works it could help reinvigorate the structured note market and take banking relationships in a new direction.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts