• 9,000 million euros have been awarded to 267 high quality and highly diversified investment accounts
  • The participation of non-resident investors has been 57.3%, mostly from the United Kingdom

The Public Treasury has made a syndicated issuance of a new 10-year reference with maturity on April 30, 2027 and a coupon of 1.50%. A total of 9,000 million euros has been issued, with a very high demand of 34,343 million. The profitability of the issuance has stood at 1,575%, equivalent to 77 basis points above the mid-swap rate (reference rate of the interbank market for interest rate swaps).

The Treasury has been able to allocate the issue among high quality investors thanks to a strong demand, coming from 267 investment accounts, very diversified by type of investor and geographical areas.

The participation of non-resident investors has reached 57.3% of the syndication. Of this percentage, the participation of the United Kingdom stands out with 18.2%; France and Italy, with 10.9%; Germany, Austria and Switzerland, with 10.1%; United States and Canada, with 5.6%; Scandinavia, with 4.3%; other European investors have obtained 4.2%; and Asia and the Middle East, 3.9%. Other foreign investors have kept 0.1% of the issue.

By type of investor, the largest share has corresponded to banks, with 45.3%, followed by fund managers, with 29.3% of the total, insurers and pension funds, with 12.4% , leveraged funds, with 7.4%, and central banks and official institutions, with 5.3%. Other investors have represented 0.3%.

With this first syndication of the year 2017, of 9,000 million euros, the Treasury has fulfilled 14.8% of its medium and long-term issuance objective for the whole year (122,904 million euros).

Banco Santander, Banco Bilbao Vizcaya Argentaria, Barclays Bank, BNP Paribas, CaixaBank and Citi have acted as directors of this issue. The rest of the group of Creators of the Bond Market and Obligations of the State have acted as co-directors.



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