Spain
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Arima Real Estate, a newly created Spanish real estate investment trust, has managed to get its IPO over the line, but with a much smaller deal size than originally intended. -
The Autonomous Community of Andalusia this week became the first Spanish region to return to the capital markets while still under the central government’s Regional Liquidity Fund.
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Santander did well to attract an oversubscribed order book for its €1bn 10 year Cédulas on Thursday — even as Spanish bank debt and equity was sold off after the country's supreme court ruled that banks are liable for mortgage documentation taxes.
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The Autonomus Community of Andalusia received plenty of demand for its first syndication in over seven years on Wednesday, allowing the issuer to increase the size of its deal and tighten pricing.
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CaixaBank proved popular this week on its return to the non-preferred senior bond market, raising €1bn and welcoming more than two times as many orders.
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The Autonomous Community of Andalusia has mandated banks for what Dealogic data shows is its first syndication since May 2011.
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The IPO of Cepsa, the Spanish oil firm, has been postponed due to the adverse conditions that continue to blight global equity markets. It is the latest in a series of new listings sunk by the recent market volatility.
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A debut sovereign green bond from Ireland and benchmark from a Spanish agency provided the firmest proof yet that the fiscal stink over Italy’s planned budget deficit has not put investors off other SSAs in the eurozone — even those that until recently were in the same ‘periphery’ bucket as Italy. But bankers are concerned that Italy’s standoff with the European Union has further to run — and that a BTP spread over Bunds of 400bp will be the breaking point.
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Spain's Fondo de Amortización del Déficit Eléctrico (FADE) will look to the private market to complete its 2018 funding programme, following the sale of its second and final syndication of the year.
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Fondo de Amortización del Déficit Eléctrico braved volatility in the eurozone periphery bond market on Wednesday for its second benchmark of the year.
