© Reuters. The debt issued in Spain was 69,000 million in 2022, 17% less
Madrid, Jan 26 (.).- The volume of bonds issued in Spain -both public and private debt- in euros during 2022 was 69,000 million, 17% less than a year earlier, affected by the fall, by 63% of the operations of the corporate sector.
And this, due to the excess liquidity accumulated in recent years, to which was added the volatility generated by the war in Ukraine and the successive rises in interest rates by central banks, which caused an increase in costs of financing.
This is shown in the Debt Capital Markets Report presented this Thursday by Société Générale (EPA:), in which the director of Capital Markets, Fernando García, highlighted that despite a “difficult” year, the The market has had issuance windows and no operation has been left unfinanced.
“There have been difficult moments, but the markets have been operational.” “The market has not closed”, said García, who also stressed that, despite the context, “investor support continues to be seen”.
In this sense, he recalled the syndicated issue held yesterday by the Treasury, which received a record demand of 86,000 million euros, which in his opinion shows that investors trust Spain and investor appetite is “powerful”.
According to the entity’s data, in 2022, of the total volume of bonds issued in Spain in euros, the public sector placed 34,125 million, which is 17% less than the previous year.
The Kingdom of Spain was the most active issuer in the Spanish public sector with a weight of 88% of the total issues (30,000 million euros), through four syndicated operations.
It was followed by the Community of Madrid, and that of Andalusia.
For its part, the volume of bonds issued by the corporate sector fell by 63%, to 7,775 million euros in 2022.
The activity of Spanish corporate companies was among the lowest registered in recent years, according to the report, which indicates that Iberdrola (BME:), Telefónica (BME:) and Cellnex (BME:) were the most active companies.
Finally, in the financial sector, the volume of bonds issued in Spain in euros was 26,800 million, 37% more.
Regarding 2023, the entity has highlighted that the start of the year has been “very positive”, since some 13,000 million euros have been issued in Spain, with a demand that “is working very well”, and in which the issuers They are taking advantage of it to advance their financing plans as much as possible.
Despite this, they warn that it is necessary to keep “an eye on” what may come regarding the situation of inflation, the monetary policy of the central banks and its effects on the economy.