Spain

Terratest, the Spanish geotechnical engineering business, has acquired US construction consultancy GeoStructures with funding from Tikehau IM.

Spain’s 10 year benchmark weighed in at €10bn on Tuesday — its largest deal in four years — and drew an astonishing book of over €43bn.

Providence Equity Partners increased the size of an offering to sell a 14.03% stake in Spanish telecom operator Masmovil through a block trade on Monday evening.

Metrovacesa, the Spanish property developer, has opened the books for its IPO on the Spanish stock exchanges with a price range that values it at up to €2.95bn.

Spain, fresh from an upgrade to its Fitch credit rating, hit screens on Monday to announce a new 10 year euro benchmark. The sovereign will share the market with Agence Française de Développement (AFD).

Spain’s Gas Natural came to the investment grade bond market on Tuesday for an €850m 10 year deal, with the borrower seeing almost triple demand for its notes as rumours bubbled about a potential stake sale from major holder Repsol.

Expectations for a busy week in the investment grade corporate market were maintained despite only Telefonica taking advantage of good primary conditions on Monday, as it sold a benchmark nine year bond in euros.

US private equity firm Lone Star sold a 9.9m block of shares in Spanish real estate developer Neinor Homes after the market closed of Wednesday, via an accelerated bookbuild that was “substantially “oversubscribed,” according to a banker involved.

January’s impressive pipeline of sovereign issuance is starting to unload, as Italy and Portugal hit screens on Tuesday for their first syndications of the year.

Metrovacesa, the Spanish property developer that collapsed during the financial crisis, hopes to become a listed company again, having filed an intention to float document on Tuesday.

Cellnex, the Spanish telecoms company, has joined the ranks of Europe’s equity-linked issuers after successfully placing a €600m debut convertible bond.

India’s real estate firm Mangla Group has joined with a Catalonian pro-independence business lobby, Cercle Català de Negocis (CCN), to establish a new property-backed direct lending fund aimed at businesses in Catalonia and the Balearic islands.