Ico cuts funding need and plots final trade

Instituto de Crédito Oficial (Ico) has today announced that its funding target for 2012 has been cut from €20bn to €15bn-€16bn, leaving just €1bn-€2bn to raise for the rest of the year. Rodrigo Robledo, Ico’s head of capital markets, told SSA Markets he hopes to print a further benchmark before year end, ideally a five year and probably of €500m size.