- The participation of international investors has reached 81.2%, and 6.9% from Asia
- 7,000 million euros have been awarded among 290 high quality and highly diversified investment accounts
- The amount requested has exceeded 24,000 million euros, with a high participation of fund managers
- The new 10-year reference has been issued with a coupon of 1.40% and a return of 1,457%
The Public Treasury has made a syndicated issuance of a new 10-year reference with maturity on July 30, 2028 and a coupon of 1.40%. A total of 7,000 million euros has been issued, with a demand of more than 24,000 million. The profitability of the issuance has stood at 1,457%, equivalent to 55 basis points above the mid-swap rate (interbank market reference rate of interest rate swaps).
The Treasury has been able to allocate the issuance among high quality investors thanks to a solid demand, coming from 290 investment accounts, very diversified both by type of investor and by geographical areas.
The participation of non-resident investors has reached 81.2% of the syndication. Of this percentage, the participation of the United Kingdom and Ireland stands out, with 29.3%; followed by the whole of Germany, Austria and Switzerland, with 15.9%; from France and Italy, with 12.2%; from the Nordic countries, with 7.1%; and of Asian investors, with 6.9%, the largest share since January 2012 in absolute terms. The rest of the regions have obtained 9.8% of the emission.
Based on the type of investor, the largest share has corresponded to fund managers, with 37.2%; followed by banks, with 30.1%; insurers and pension funds, with 11.6%; central banks and official institutions, with 10.4%; and leveraged funds, with 6%. Other investors have represented 4.8%.
With this third syndication of the year 2018, of 7,000 million euros, the Treasury has fulfilled 62.2% of its medium and long-term issuance objective for the whole year (131,310 million euros).
Banco Bilbao Vizcaya Argentaria, Banco Santander, Barclays Bank, BNP Paribas, HSBC and J.P. Morgan have acted as directors of this broadcast. The rest of the group of Creators of the Bond Market and Obligations of the State have acted as co-directors.
