/SPAIN ISSUANCE/MNI EXCLUSIVE:....>

EUROZONE ISSUANCE: /SPAIN ISSUANCE/MNI EXCLUSIVE: Spain has no plans to issue a

new ultra-long bond with a maturity over 50 years in 2019, Spain's senior debt

manager told MNI Tuesday.

- Spain sees no need to issue foreign currently bonds. 

- Spain would have to hedge any issuance in foreign currency as they do not hold

assets denominated in a foreign currency.   

- Currently, Spain has a one-way credit support annex (CSA), "which makes the

hedging of these positions onerous and limits the possibility to find an

opportunity that is interesting both for the Treasury and for the investor", so

we are exploring the possibility to move to a two-way CSA, concluded de

Ramon-Laca Clausen.

- Net issuance for 2019 is expected to be broadly in line with this year, with

medium and long-term redemptions expected to total E91.766bln. The exact amount

to be issued is yet to be determined.  

- Spain has experienced a very positive year in the debt markets in 2018, with

the average cost of the outstanding debt hitting a historic low of 2.40%.