BBVA Corporate & Investment Banking has acted as bookrunner in the recent €500 Mn 12 year-bond issue made by Repsol, the oil and gas company.
Spanish company Repsol has relied on BBVA expertise to place this issue, which was oversubscribed - demand was over 2.8 times the announced amount - and went ahead with an interest rate of 2.25%.
Taking advantage of a strong market backdrop in Europe underpinned by recent Quantitative Easing talks, Repsol decided to make a swift approach to the market announcing a €500mn no grow transaction. This is Repsol's first transaction in 2014 and its longest ever bond, with which it extends its curve to 2026.
More than 180 accounts and 20 countries were present in the deal, which received a very strong support from Germany and Austria, followed by Iberia.