Spain
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Orders peaked at more than €3.4bn for BBVA’s five year non-preferred senior deal on Tuesday, with floating rate notes starting to prove popular among both investors and issuers. -
Spanish insurance firm Mapfre has amended and extended a €1bn syndicated loan, adding two years to the maturity and a sustainable financing element that could lower the cost.
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Italy could retrieve half of the basis points it has lost to Spain in the run-up its general election next weekend — if the vote returns the most market-friendly result, according to a portfolio manager at a leading investment house. Spain, meanwhile, printed a 30 year benchmark with the second largest book ever for a euro sovereign deal in the tenor — another sign that the country is marching towards or already at semi-core status, said bankers.
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Ence, the Spanish biomass energy company, finalised a €160m equity-linked bond on Thursday to fund the voluntary redemption of an earlier straight bond.
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Spain’s first trip to the long end of the curve in almost two years met with an overwhelming response, as the sovereign received one of the largest books ever for a 30 year bond.
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Spain has picked banks for its second deal of the year, looking towards the long end of the curve for the first time since May 2016.
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Santander's co-head of FIG trading has left the bank. GlobalCapital understands.
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Prisa, the Spanish media group, has raised €563m to tackle its high debts after its rights issue finished more than seven times oversubscribed.
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The Autonomous Community of Madrid this week made a triumphant second visit to the socially responsible investment (SRI) market as it printed a deal double the size of its debut last year. Further issuance from the borrower — in conventional and SRI format — is likely to come soon, although in private placement (PP) format. But there may be further SRI issuance from some of Madrid’s Spanish peers.
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Spanish regional issuers are in discussions with the Autonomous Community of Madrid in an effort to add their names to the list of Spanish public sector SRI bond issuers.
