LONG TERM DEBT AUCTIONS AND SYNDICATED ISSUANCE
Deal Summary: new €5bn 2.35% 15-year benchmark (February 22, 2017 - pdf 347 KB)
The Kingdom of Spain priced a new 15-year benchmark. This is the second syndicated bond for 2017. The new €5bn SPGB due 30 July 2033 pays a 2.35% coupon and was priced at a spread of 120bps over mid swaps (reoffer yield of 2.392%). More than 125 investors took part to the transaction with an orderbook that reached €14.5bn at the final spread.
Long term auction: 16 February 2017 (February 16, 2017 - pdf 93 KB)
Three references were auctioned with a target range of €4 to €5 bn. Apr-2022: €2.05bn allotted, 1.53 bid to cover, 0.532% weighted average rate. Apr-2027: €1.02bn allotted, 2.95 bid to cover, 1.733% weighted average rate. Oct-2028: €1.48bn allotted, 1.67 bid to cover, 1.894% weighted average rate. The gross issuance of medium- and long-term bonds of the regular funding programme stands at €26.9 bn (21.9% of the projected figure for 2017)
Deal Summary: new €9bn, 1.50%, 10-year benchmark (January 24, 2017 - pdf 345 KB)
The Kingdom of Spain priced a new 10-year benchmark. This is the first syndicated bond for 2017. The new €9bn SPGB due 30 April 2027 pays a 1.50% coupon and was priced at a spread of 77bps over mid swaps (reoffer yield of 1.575%). More than 220 investors took part to the transaction with an orderbook that reached €34bn at the final spread.
SHORT TERM DEBT AUCTIONS
Short term auction (Letras): 21 February 2017 (February 21, 2017 - pdf 85 KB)
Two references were auctioned with a target range of €2 to €3 bn: 3-month Letras: €0.61bn allotted, 3.56 bid-to-cover, -0.415% weighted average rate. 9-month Letras: €1.63bn allotted, 3.12 bid-to-cover, -0.332% weighted average rate.
Tesoro Público: 2017 Strategy (January 09, 2017)
Kingdom of Spain's issuance calendar for 2017 (and review of 2016)
(February 2017 - pdf 1.1 MB)
Stability Programme 2016-2019 (Summary presentation) ES
(April 2016 - pdf 234 KB)
National Reform Programme 2016 Executive Summary
(April 2016 - pdf 190 KB)