- The issue amounts to 5,000 million euros, with a coupon of 2.35% and a return of 2.392%
- The placement has been carried out among 152 high quality and highly diversified accounts by type of investor and geographical areas
- The participation of non-residents has been 82.2%, mostly from European countries
The Public Treasury has made a syndicated issuance of a new 15-year reference with maturity on July 30, 2033 and a coupon of 2.35%. A total of 5,000 million euros has been issued, with a very high demand, of 14,618.6 million euros. The profitability of the issuance was 2,392%, equivalent to 120 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 issuance among high quality investors thanks to a strong demand, from 152 investment accounts, very diversified by type of investor and geographical areas.
The participation of non-resident investors has reached 82.2% of the syndication. This percentage highlights the participation of the United Kingdom with 23.1%, Germany, Austria and Switzerland, with 20.7%, France and Italy with 18%, the United States and Canada with 17.1%, and Scandinavian countries with 2.4%. Other countries have obtained 0.9% of the issue.
Based on the type of investor, the largest share has corresponded to banks, with 37.9%, followed by fund managers, with 24.7% of the total, leveraged funds with 18.1%, insurers and funds of pensions with 14%, and central banks and official institutions with 4.7%. Other investors have represented 0.6%.
With this second syndication of the 2017 year of 5,000 million euros, the Treasury has fulfilled 26.6% of its medium and long-term issuance objective for the whole year (122,904 million euros). After this issuance, the average life of the State's debt portfolio amounts to 6.95 years.
Banco Bilbao Vizcaya Argentaria, Barclays Bank, HSBC, JP Morgan, NatWest Markets and Banco Santander 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.
