Spain cancels syndicated bond auction

September 4, 2021 by admin

first_img whatsapp Spain cancels syndicated bond auction Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Spain scrapped a long-term debt auction on Monday in favour of a bond sale via banks to take advantage of more benign market conditions to borrow at lower cost.Other highly-indebted states have also said they would seek to issue new bonds. Belgium said it would issue a ten-year bond through a syndicate of banks while Portugal has said it plans to place a syndicated bond this quarter. Spanish bond prices fell after it launched its bond, expected to be sized at €4-5bn (£3.4bn-£4.2bn), and the yield premium on Spanish bonds versus benchmark German paper widened to 240 basis points, up about 8 bps on the day.Madrid had planned to auction 10- and 15-year bonds on Thursday but cancelled the sale.“Conditions have improved and created opportunities,” said Peter Chatwell, interest rate strategist at Credit Agricole in London.Spain’s auction last Thursday of five-year bonds achieved a better than expected price, which helped compress yields on its benchmark debt and gave the government some breathing room.Portugal and Italy also successfully sold bonds last week.Societe Generale analysts said in a note that syndications were a “litmus test” for bond issuance as they required substantial involvement of long-term “real money” investors.If the Spanish sale went well “one worry over the financing of European governments is behind us”, they wrote, adding that a modest sell-off in outstanding debt after the sale was announced may reflect “confidence that the issue will be well priced”. Show Comments ▼ center_img alison.lock Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap whatsapp Monday 17 January 2011 9:24 am Tags: NULLlast_img

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