Hola GG! Galicia to follow Bancaja and Caixa Catalunya

22 Oct 2009

Spanish banks are swooping on the government guarantee extension from three to five years. Caja Galicia is expected to issue a five year deal imminently, while Caixa d’Estalvis de Catalunya and Caja de Ahorros de Valencia Castellon y Alicante (Bancaja) received overwhelming demand for their respective Eu1.5bn five year issues.

Caixa Catalunya priced its deal on Thursday. Calyon, Deutsche Bank, Goldman Sachs, HSBC and UBS built a book of Eu3.25bn comprising 115 orders.

"The Bancaja deal paved the way," said a banker at one of the leads. "So it is no surprise it was also well received."

The deal ...

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