Spain reopens dollar market for peripheral Eurozone borrowers

Spain priced on Wednesday its first dollar benchmark since 2009. The deal confirms what some senior SSA bankers have suspected has been the case for a few months —that peripheral Eurozone borrowers have more than adequate market access in dollars despite the ups and downs of the ongoing sovereign debt crisis in Europe and its associated political turmoil — and that the market for dollar issuance by this borrower group is now reopened.