Spain

The lack of any concrete monetary easing announcements at a meeting of the European Central Bank’s governing council on Thursday could spark a rise in eurozone periphery sovereign yields, analysts have warned.

Naviera Armas, the Spanish passenger and cargo ferry operator, on Thursday offered its first ever bond. Naviera's bond is also the first debut in the post-Brexit high yield market, which has been dominated by southern European borrowers.

Spain drew nearly €30bn of orders for a new €6bn 10 year benchmark on Tuesday, as Cyprus tightened pricing by 20bp on a seven year deal.

Spain is lining up its second 10 year euro benchmark of the year, as bankers responded to a question about market conditions with: “It’s game on.”

Spanish infrastructure and renewable energy company Acciona has amended a loan signed in March 2015, increasing the deal size and reducing the margin.

Spain blew through its latest auction target with sales of debt at five, nine and 15 years, thanks to a drastically reduced cost of funds.

Tuesday night's €815m block trade in Abertis shares for Obrascon Huarte Lain, the Spanish construction company, was a daring reopening of equity issuance after the UK's shock vote to leave the European Union. But despite the deal's success, it has been followed by surprisingly poor trading in OHL's shares and bonds.

Iberdrola, the Spanish energy company, completed a €500m multicurrency, new money loan deal on June 30, one week after the UK's EU referendum.

A stronger picture is emerging for the eurozone periphery late in the week, after the region’s governments suffered a spike in yields in the immediate aftermath of the UK’s vote to leave the European Union.

Spanish renewable energy and engineering company Elecnor kept the margin unchanged as it refinanced €600m of loans.

Tuesday night's €815m block trade in Abertis shares for Obrascon Huarte Lain, the Spanish construction company, was a daring reopening of equity issuance after the UK's shock vote to leave the European Union. But despite the deal's success, it has been followed by surprisingly poor trading in OHL's shares and bonds.

Santander's head of syndicated loans has left the bank, and Santander has replaced him internally.