© Reuters. The Treasury raises 13,000 million in the first syndicated issue of 2023
(Updates EC3106 with new market data)
Madrid, Jan 25 (.).- The Spanish Public Treasury has placed 13,000 million euros this Wednesday in a new ten-year bond in what has been the first syndicated issue of 2023, whose demand by investors has reached 87,000 million.
This is the second largest demand received in a Treasury issue, and “which shows the very good access to capital markets and the confidence of international investors in the Spanish economy”, according to sources from the organization.
Likewise, the volume placed, those 13,000 million euros, represents the second largest amount issued by the Treasury, according to the same sources, who have also valued the high demand from international investors, in the highest part of the range, and good quality of orders.
According to market data, the initial return on the aforementioned syndicated issue was 12 basis points above the current ten-year debt reference, but given the high demand received from investors, it was finally reduced to 10 points. basic.
For today’s issuance, Treasury had mandated Barclays (LON:), BBVA (BME:), Citi, Crédit Agricole (EPA:), JP Moran y Santander (BME:).
The last time the Spanish Treasury launched a syndicated issue -in which a group of banks help directly place the debt among investors- was on September 20, 2022, a year in which the agency held a total of four auctions. syndicated.
According to the Treasury’s financing strategy for 2023, the body forecasts a net issuance of 70,000 million euros, the same amount as a year earlier, while gross issuance will reach 256,846 million, 10% higher, due to the increase in Amortization.