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Spain 30-year mandate

EGB SYNDICATION

"The KINGDOM OF SPAIN has mandated BBVA, Citi, J.P. Morgan, Morgan Stanley, Santander and Societe Generale for a new Obligacion del Estado syndicated 30-year Euro benchmark maturing on 31st October 2054. The transaction will be launched in the near future subject to market conditions." From market source (announced at 12:00GMT / 13:00CET).

  • We had noted last week that we expect another syndication from Spain in February (with the potential to launch this wee) and most likely a new 30-year Oct-54 Obli for E5-7bln. The lack of any nominal bonds with a maturity longer than 10-years at the 1 February auction made us more confident of an imminent syndication.

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