Bankia blows out as credit markets march on

By Tyler Davies
18 Mar 2019

Bankia used €6bn of demand on Monday to launch a new senior bond at a spread that was tighter than the fair value implied by on-looking bankers. SpareBank 1 SR-Bank was also active in euros at the beginning of the week, as credit markets got off to a flying start on the back of a recent rally.

Bankia hired its own bank, Bank of America, BBVA and Natixis to arrange the sale of a five year bond in preferred senior format.

The Spanish bank capped the size of its new offering at €500m, but quickly found that there was plenty more demand ...

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