Spain
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BBVA’s third additional tier one transaction, priced last week, is likely to demonstrate the increasing importance of “future supply overhang” for the product’s performance, according to TwentyFour Asset Management.
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Spanish property investment company Merlin Properties issued its debut bond on Thursday and found a roaring reception from investors, like many of its compatriots that have issued in the past fortnight. -
Iberdrola, the Spanish electricity and gas company, issued its second green bond on Thursday, and increased the 10 year deal to €1bn in response to strong demand.
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BBVA’s third additional tier one transaction is likely to demonstrate the increasing importance of "future supply overhang" for the product’s performance, said TwentyFour Asset Management on Monday.
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BBVA launched the first euro denominated AT1 transaction since February’s sell-off this week, pricing the bond through its outstanding notes’ yield to call and fuelling hopes the primary market is fully open once more.
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Portugal brought a dual tranche syndicated tap this week, in what some bankers felt was a disappointment amid a busy market where every other deal went well — but the leads were quick to defend the trade.
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BBVA has launched the first euro denominated AT1 bond since February’s sell-off, pricing the bond through its outstanding notes' yield to call, and fueling hopes the primary market is fully open once more.
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Instituto de Crédito Oficial printed a no-grow €500m September 2018 social bond on Tuesday, with bankers noting that the bond’s high yields might have been just as appealing as its high morals.
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Parque Reunidos, the leisure parks operator, on Monday announced what it hopes will be the largest Spanish IPO for over a year, in a bid to reduce debt and begin to make an exit for private equity owner Arle Capital.
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The Spanish engineering and green energy firm Abengoa is set to file for Chapter 11 bankruptcy for its US affiliates, after 75% of its lenders signed a standstill agreement.
