Spain

Fomento de Construcciones y Contratas, the Spanish construction company, released the take-up figures for its rights issue on Thursday.

Delve into the details of their respective economic and political prospects, and Italy’s investor credentials are seemingly more favourable than Spain’s, writes Jeremy Weltman.

Spain and Portugal continued to suffer political turmoil this week, with bankers worrying that Spain’s troubles might lead to a widening of its spread over Italian bonds.

Santander Consumer Finance opened up a new Tokyo Pro-Bond programme worth €10bn on Tuesday, following a similar move from its UK sister borrower last year.

Spain's spread over Italian bonds could widen further as investors fret over its finances while responding positively to the reforms led by Italy prime minister Matteo Renzi, despite Spain shrugging off a move from positive to stable outlook from Moody's late last week.

Rating agency Moody’s on Friday added its voice to those of analysts and investors in London and Madrid asking for details on Abengoa’s debt reduction.

Spain took advantage of much better conditions compared with turmoil last week to cut its three and five year borrowing costs at auction on Thursday — although its 10 year yields rose.

Bankia will repay retail investors the €1.85bn they invested in the Spanish bank’s ill-fated initial public offering, to compensate them for losses incurred.

European credit markets, led by the banking sector, have seen risk escalate over the past several weeks with the Markit iTraxx Europe Main index seeing its spread widen to the highs of June 2013. One bright spot however, has been the region’s sovereign credit, which has largely steered clear of the contagion that developed in the corporate market.

Spanish renewable energy company Abengoa has asked lenders to sign a new credit facility as its March 28 deadline to avoid bankruptcy looms ever closer, but an accord appears elusive.

The widening spreads between core and periphery eurozone government bonds may lead some issuers to hold back from bringing deals, say bankers.

ArcelorMittal on Friday announced the sale for €875m of its 35% stake in the Spanish car parts supplier Gestamp Automoción to the Riberas family, who are yet to disclose details of how they will finance the purchase.