La Caixa debuts for Spain, RZB tests new tenor
La Caixa is set to today price the inaugural government guaranteed (GG) transaction from Spain. The leads BNP Paribas, HSBC, JP Morgan, La Caixa and Société Générale will price the issue at 80bp over mid-swaps and have garnered an order book in excess of Eu2.5bn for the Eu2bn issue. At 80bp, the level has been described as ambitious by market participants. Meanwhile, RZB will price the first five year GG issue in Europe today via Citi, Deutsche Bank, HSBC and RZB at the revised guidance of 68bp to 70bp over mid-swaps. To find out about these deals and other GG issuance, read EuroWeek on Friday.
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