Investors have requested 20,151 million euros and 7,000 million have been placed, with a return of 1,981%

The participation of non-residents has touched 73% and has been very diversified by origin and by type of investor

With this operation, the Treasury has captured 25% of the medium and long-term issuance estimated for the entire year

The Public Treasury has made a syndicated issuance of a new reference to 15 years, with maturity on July 30, 2030 and a coupon of 1.95%, the lowest in the history of the Treasury in a syndicated issuance at this time. Profitability has stood at 1,981%, equivalent to 100 basis points above the rate mid-swap (interbank market for interest rate swaps). Profitability has been 321 basis points lower than that of the syndication prior to this term (reference expiring on October 31, 2028 and a coupon of 5.15%).

The final demand, coming from more than 460 investment accounts, has been 20,151 million euros. The volume issued has been 7,000 million euros, making it the largest 15-year syndication of the Public Treasury.

The demand has been very diversified by type of investor and geographical areas and has allowed the Treasury to place the placement among quality investors. The participation of non-resident investors has been 72.9% of the syndication. Of this percentage, the participation of the United Kingdom and Ireland stands out with 19.0%, followed by Germany, Austria and Switzerland with 14.9%, France and Italy with 13.5%, the United States and Canada with 12, 6%, Scandinavian countries with 7.9% and other European countries with 3.2%.

Based on the type of investor, the largest share has corresponded to fund managers with 46.9% of the total, followed by bank treasuries with 25.5% and insurers and pension funds that have participated with 16, 9%, while leveraged funds have participated with 7.5% of the total. Official institutions have participated with 1.6% and other investors with 1.7%.

With this syndication of 7,000 million euros, the Treasury has issued a total of 51,652 million euros to date, of which 35,434 are part of the medium and long-term financing program. This figure represents 25.0% of the forecast for medium and long-term issuance for the entire year, included in the Public Treasury Financing Program announced on January 13 (141,996 million euros).

With this operation, the Public Treasury has once again demonstrated the confidence of capital markets in Spain and its large issuers, both public and private.

BBVA, Banco Santander, Barclays, BNP Paribas, Citi and Société Générale 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-leaders.



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