Spain
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Spain’s Red Electrica Corporation has signed the first ever syndicated loan on a blockchain, though some loans officials away from the deal question how useful the technology will be in its goal of reducing transaction times. -
Spanish banks won out this week after a series of conflicting statements from the courts and the government finally led to clarity on who should be liable for paying stamp duty on mortgage loans.
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Masmovil Ibercom, a Spanish telecoms firm, raised €360m through a quickly executed primary share sale on Wednesday evening, allowing the firm to redeem an outstanding convertible bond.
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Spanish banks were among the best performers in the debt and equity markets on Wednesday, after the country’s Supreme Court surprised market participants by reversing a ruling that would have meant that lenders were liable to pay stamp duty on mortgage loans.
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The Spanish Supreme Court is expected reach a decision on Tuesday about whether banks should have been liable for certain mortgage taxes that have previously been paid by the borrower.
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The Autonomous Community of Andalusia is aiming to revisit the public and private bond markets next year, according to the region’s minister of economy and finance.
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Distribuidora Internacional de Alimentación, a recently downgraded Spanish discount food retailer that issued a profits warning last week, saw its outstanding bonds fall further in the secondary market despite providing a glimmer of good news.
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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.
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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.
