By Emese Bartha
Spain's first syndicated government bond transaction this year has been launched with a issue size of 13 billion euros ($14.15 billion) on Wednesday, one of the lead manager banks said.
The issue of new 10-year, April 2033-dated government bonds attracted more than EUR87 billion in demand when orderbooks closed, including EUR4.5 billion joint lead manager interest, the same bank said.
The spread on the new bond was set 10 basis points above the mid-yield of the 2.55% October 2032-dated Spanish peer.
Eurozone countries are traditionally busy in issuing government bonds at the beginning of the year as they start their annual funding programs.
Government bond issuance--both syndications and auctions--has been well received year to date as investors remain undeterred by prospects of substantial debt supply to come, even as the European Central Bank stands ready to start quantitative tightening in March.
Joint lead managers of the Spanish transaction were Barclays, BBVA, Citi, Credit Agricole CIB, J.P. Morgan and Santander.
Write to Emese Bartha at emese.bartha@wsj.com
(END) Dow Jones Newswires
01-25-23 0709ET
