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Spain 15-year mandate

EGB SYNDICATION
  • "The KINGDOM OF SPAIN has mandated Deutsche Bank, J.P. Morgan, Morgan Stanley, Nomura, Santander and Societe Generale for a new Obligacion del Estado syndicated 15-year Euro benchmark maturing on 30th July 2039."
  • "The transaction will be launched in the near future subject to market conditions."
  • We had been looking for a 15-year transaction this week. We wrote on Friday: "We also think there is a good chance of a Spain syndication next week. The longest-dated Obli on offer at last week’s auction had a maturity of less than 10-years which we think tees up this week nicely for a syndication. We don’t have a strong view on the maturity, but that there is a decent chance of a new 15-year Obli."

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