THE KINGDOM of Spain is expected to launch a $1bn 10 year offering today (Friday), its first dollar transaction since 1992. ABN Amro was understood last night to have won the mandate, although no official announcement had been made. Competition for the mandate was fierce, with Spanish borrowing officials looking to achieve a spread below the trading level of the Republic of Italy's $2bn 10 year launched in May.
July 17, 1998