Spain cuts issuance target, rules out further syndications in 2020

By Burhan Khadbai
12 Oct 2020

The Spanish treasury has cut its funding target for the year by €15bn as a result of a better income than anticipated, and said it does not expect to issue any more syndicated bonds before the end of the year.

In its revised funding programme, Spain is targeting gross and net issuance of €282bn and €115bn in 2020 compared with the previous forecast of €297bn and €130bn, respectively.

Spain has €32bn of gross issuance left to raise between now and the end of the year, of which about ...

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