BBVA places the Spanish Treasury's successful syndicated bond issueJuly 10, 2013
The Spanish Treasury yesterday completed the fourth syndicated bond issue of the year aimed at qualified investors and market makers. The €3.5 billion placement matures on 31 October 2028 and has an annual yield of 5.15 %, equivalent to 280 basis points relative to the mid-swap rate, the benchmark for this type of operation. This is Spain's first 15-year bond issue in over two years.
Spanish accounts contributed 45.5% of the demand with non-resident investors accounting for 54.5% of the bonds, which have a yield of 5.194%. Total investor demand for paper amounted to €7.5 billion. This is more than double the capital secured though demand was lower than in preceding ten-year issues carried out this year.
Regarding the nationality of the non-resident buyers, 18.31% were from the eurozone, 18% from the UK and 14.4% from the US. Insurers and pension funds secured 36% of the issue while banks and fund managers took 24.2% and 22.4% respectively.
BBVA, jointly with BNP Paribas, CaixaBank, Crédit Agricole, Credit Suisse and Société Générale, has led the bond issue.
With this new issue, BBVA Corporate & Investment Banking shows once again its support for its customers all over the world and its outstanding execution capabilities in the capital markets.