Precedents set Galicia pricing, demand to set size

Caixa Galicia opened books on a new cédulas this (Wednesdy) morning, and followed in Bankcaja’s lead in targeting a size of Eu500m-Eu1bn. As expected, the price guidance selected also puts it in the same space as Bancaja and Caixa Catalunya, rather than the tighter BankInter’s range, as clear tiers emerge in the Spanish primary market.