Spanish GG issuers ignore investor resistance, Dexia in new guise
Spanish banks are ignoring dwindling investor appetite for guaranteed issuance and piling deals into the market. Cajamar just got its Eu1bn three year trade across the line but that didn’t stop Banco Cooperativo Espanol from mandating its deal. Meanwhile, Dexia, under the guise of Dexia Belgium, raised Eu2bn in the FRN format which attracted strong demand. To read about the winners and losers of the GG market, pick up EuroWeek on Friday.
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