Spain
-
Euros in the public sector bond market have enjoyed an exceptional run throughout January, providing borrowers from all across the public sector with funding in a tremendous breadth of maturities. -
The Principality of Asturias has become the latest Spanish region to issue bonds, rather than accepting loans from Spain's regional liquidity fund, the FLA.
-
Santander has become the first Spanish lender to raise non-preferred senior debt, even though Spanish law cannot yet accommodate the new asset class. The bank paid a small premium, and took an important early step towards its sizeable senior target for total loss-absorbing capacity (TLAC).
-
Banco Santander made a profit of €6.2bn last year as a booming performance in Latin American markets helped offset its exposure to a sinking pound.
-
The Spanish sovereign launched a €9bn 10 year on Tuesday, bringing the largest eurozone sovereign syndication so far this year.
-
Obrascón Huarte Lain, the Spanish construction company, sold a 1.84% stake in Abertis, the Spanish toll roads group, through an accelerated bookbuild launched on Monday evening that was covered very quickly after launch and priced with no discount to the close.
-
Two more European sovereigns have hit screens with 10 year euro mandates, hoping to enjoy the same success that Portugal and Belgium with their deals at the 10 year range this year.
-
Spanish and French covered bonds were well supported on Monday with further buying reported following demand seen last week. With only one Spanish Cédulas seen so far this year, the market should be receptive to more supply.
-
Fresenius, the German healthcare company that launched the first equity-neutral convertible bond in 2014, returned on Thursday to issue another successful deal, this time to complete the financing of its €5.76bn acquisition of Quirónsalud, the Spanish hospitals group.
-
The Autonomous Community of Madrid has hit the long end of the curve with a 20 year private placement for its first deal of 2017.
-
-
