BBVA mandates as other banks bide time

02 Jan 2013

BBVA mandated for a five year senior unsecured euro transaction on Wednesday afternoon. The deal announcement came as other European banks were lining up a range of transactions and indices moved tighter on Wednesday’s market open.

Indices screamed tighter as the European market reopened to news of a US agreement on new tax rules, providing some temporary respite for fiscal cliff worries. The senior CDS index tightened 11bp to 131bp, while sub came in 17bp to 220bp on Wednesday morning, Markit data showed.

BBVA ...

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