BBVA and Banesto sold some large tickets in the European commercial paper market this week, as the bank sector increased its presence.
By Thursdays close, bank paper made up 51.9% of ECP issuance, up from 44.45% over last week.
Banesto sold $959.3m equivalent, including a Eu652m one month note. BBVA issued $927.6m in euros and sterling, with maturities up to six months.
"Banesto and BBVA are trading in really good sizes," said