Red Eléctrica sells Eu300m nine year deal, as GEA and Brambles price debuts

Spain’s Red Eléctrica priced Eu300m of nine year notes on Thursday, as GEA Group and Brambles both tapped the Eurobond market with their inaugural issues.

  • 14 Apr 2011

A2/AA rated Red Eléctrica priced its transaction at 130bp, based on guidance of 130bp to 135bp. Although the notes were well oversubscribed, the borrower had set the size at Eu300m no-grow.

“The company’s 2018 notes were out trading at 110bp over with a very steep curve,” said a ...

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