Gas Natural’s €1bn deal restores confidence in riskier hybrid sales
Spain's Gas Natural issued its first hybrid capital bond on Wednesday, raising €1bn, after a two day roadshow.
Global co-ordinators Barclays and BBVA, which led the roadshow, were joined by BNP Paribas, Caixa Bank, JP Morgan, Nomura and Santander as bookrunners on the perpetual non-call eight year deal.
“The investor feedback was quite defensive,” said a banker at one of the bookrunners. “It’s just the way the ...Already a subscriber? Login