Spain
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Liberbank plans to issue its first covered bond, Danske Bank in Finland is set to issue its first deal in three years and UniCredit Austria has announced a roadshow hot on the heels of a Pfandbrief issued by the German subsidiary. -
Spain’s Red Electrica Corporation has signed the first ever syndicated loan on a blockchain, though some loans officials away from the deal question how useful the technology will be in its goal of reducing transaction times.
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Spanish banks won out this week after a series of conflicting statements from the courts and the government finally led to clarity on who should be liable for paying stamp duty on mortgage loans.
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Masmovil Ibercom, a Spanish telecoms firm, raised €360m through a quickly executed primary share sale on Wednesday evening, allowing the firm to redeem an outstanding convertible bond.
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Spanish banks were among the best performers in the debt and equity markets on Wednesday, after the country’s Supreme Court surprised market participants by reversing a ruling that would have meant that lenders were liable to pay stamp duty on mortgage loans.
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The Spanish Supreme Court is expected reach a decision on Tuesday about whether banks should have been liable for certain mortgage taxes that have previously been paid by the borrower.
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The Autonomous Community of Andalusia is aiming to revisit the public and private bond markets next year, according to the region’s minister of economy and finance.
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Distribuidora Internacional de Alimentación, a recently downgraded Spanish discount food retailer that issued a profits warning last week, saw its outstanding bonds fall further in the secondary market despite providing a glimmer of good news.
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Arima Real Estate, a newly created Spanish real estate investment trust, has managed to get its IPO over the line, but with a much smaller deal size than originally intended.
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The Autonomous Community of Andalusia this week became the first Spanish region to return to the capital markets while still under the central government’s Regional Liquidity Fund.
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Santander did well to attract an oversubscribed order book for its €1bn 10 year Cédulas on Thursday — even as Spanish bank debt and equity was sold off after the country's supreme court ruled that banks are liable for mortgage documentation taxes.
