Spain shifts €3bn overseas with comeback syndication
The Kingdom of Spain beat away early criticism of its deal on Wednesday with a bold re-entry into the syndicated market. Spain has effectively been barred from the syndicated market since March 2011 when it issued a 15 year bond as international investors cut exposure to peripheral European sovereigns. But with the bulk of this deal heading overseas, Spain can rightfully claim an about face in investor perceptions of its credit.
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