Spanish borrowers test appetite, adding sweetener

June 23, 2010 12:00 am

After French borrowers stormed into the market last week, now it’s the turn of the Spanish companies and both FCC and Iberdrola are in the market, testing lender’s appetite. Utility Iberdrola, rated A3/A-/A- is paying an initial margin of 75bp for a Eu2bn five year back-up facility, more than other recent single-A borrowers such as Linde or Carrefour. To find out more, read EuroWeek this Friday.

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