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Spain 2024 Funding Plans: Net Issuance To Decline By E10bln

EUROZONE ISSUANCE

The Spanish Treasury today released its 2024 funding plans (release here):

  • Net issuance of E55bln, met entirely via medium/long-term issuance, vs E65.126bln in 2023
  • Total gross issuance of E257.252bln, vs E251.995bln in 2023
  • Gross medium/long-term issuance of E173.118bln
  • Gross bills issuance of E84.454bln
  • Targeting average maturity remaining stable at around 8 years
  • To re-open the green bond issued in 2021, aiming to build size to similar to that of other benchmarks
  • To issue via 48 Bill and Bono/Obli auctions, and with syndications for some issuance
  • Targeting debt-to-GDP ratio of 106.3% (vs 108.1% in 2023)

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