Spain
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Unicaja and Permanent TSB gear up to print in the absence of national champions -
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Spanish covered bonds to metamorphosise in a little over six weeks
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Despite its rarity as an issuer, the Spanish lender struggled to win investors’ attention in a busy market
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Investors at risk of sizeable mark-to-market losses on sovereign bonds if bar to ECB intervention remains this high
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Japanese investors ditch €21bn of foreign bonds in a month
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Bigger concessions become an important way to mitigate volatility in swap spreads
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Big brand still key as second tier firms find some parts of the market inaccessible
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Policy to apply initially in Spain and gradually to other countries
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Senior official in Spanish treasury to switch jobs later this year
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Investors keen to buy bail-in paper from JP Morgan and Sabadell
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Major shareholder reduces stake in Spanish pharmaceuticals company
