The Spanish mortgage bond market took another step forward this week with launch of a Eu1bn 10 year transaction for Banco Bilbao Vizcaya, making BBV the second Spanish bank to issue cédulas hipotecarias in the international markets. Lead managed by ABN Amro, BBV, CDC Marchés, Deutsche and Dresdner Kleinwort Benson, the issue comes a week after a Eu1.5bn five year transaction for Argentaria. BBV's deal came to market after a roadshow that covered Frankfurt, Paris and Amsterdam.
September 24, 1999