Spain

The second Greek general election of the year has returned a much more market friendly result than the first one, and SSA bankers are hopeful that a prevailing calm in the euro market could lead to some deals.

Grupo Villar Mir, the family holding company of Juan-Miguel Villar Mir, went head to head with Glencore’s $2.5bn capital raising on Tuesday night, but suffered nothing from the clash, as it sold a 2.36% stake in Abertis Infraestructuras, the toll roads and telecoms infrastructure group.

Greece heads to the polls over the weekend for its second parliamentary election this year, but there is little concern of the plebiscite rocking markets like the earlier vote in January.

Two state owned corporations, La Poste and Adif Alta Velocidad, this week avoided paying the wider new issue premiums that many corporate issuers have been forced to concede.

Kuxtabank this week issued the first Spanish covered bond backed by loans with an environmental, social and governance remit, and the first peripheral 10 year since March.

Spain’s borrowing costs dropped in five years but rose in threes and 10s at an auction on Thursday, as Italy shelved its BTP Italia product for the year.

Caja Rural de Castilla-La Mancha (CRCLM) completed a series of meetings last week and has mandated leads for its first deal, a six year that is to be launched on Tuesday.

Financial services boutique StormHarbour on Wednesday said it has hired for its Madrid office Yago Valderrama, Société Générale’s former head of cross-asset solutions in Spain and Portugal.

Adif Alta Velocidad, the Spanish state high speed rail network company, received heavy domestic demand for its €600m bond issue on Tuesday, which enabled it to pay a single digit new issue premium, as La Poste had the day before.

Spain kicked off a busy week for the eurozone periphery with a bill sale where the sovereign’s borrowing costs repeated their pattern for much of this year by bumping around 0%.

Bond and equity investors in Abengoa, the Spanish renewable energy company, took heart this week after Standard & Poor’s affirmed its rating after the market close on Friday, September 11.

Italy’s borrowing costs dropped across the curve at an auction on Friday, although its yields at the longer end are still some distance from the euro-era lows hit earlier this year.