Spreads in focus amid Caixabank BPE merger rumours
Renewed speculation about a potential merger between Spain’s Caixabank and Banco Popular Español could lead to Cédulas spread convergence, analysts told The Cover on Friday. Caixabank’s five year Cédulas saw plenty of buying interest this week, but BPE’s recently issued Cédulas remain unloved and are bid around 100bp wider than its peer.
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