FRANKFURT. Spain has today surprised the markets and sells a new bond, which expires in ten years. The volume is expected to be lashed at five billion euros. The bond was sold at a yield of 5.58 percent, he offered a premium of 0.2 percentage points to the comparable bond slightly shorter running. Their course was somewhat increased in the past few days and return in accordance with the ten-year high sunk.
As investor sentiment since the successful bond increases in Portugal, Spain and Italy have improved in the last week, was the date for the placement of the new loan rates, said John Rudolph, an analyst at HSBC Trinkaus. Yesterday, the outstanding bond fell only slightly under pressure because investors took place in their portfolios for the new paper. By the late afternoon, there were loud bankers for the new bond purchase orders for nine billion euros.
Investors had begun to adjust to Spain on Thursday, the current increased this almost ten years and the 15-year bond and placed the new bond issue later this month. The increases from Madrid said yesterday. "This practice is common, hardly a country goes into a week of new loans by bank syndicate and increased at the same bonds in an auction," said Rudolph.
Selected banks in syndicated loans bonds sell at a uniform price directly to investors; increases at many banks issue submitted bids, which they bid on the loan and then sell only to investors. The placement of the syndicate is considered the safer way to find investors. The mandate for the new bond shared between Barclays, BBVA, BNP Paribas, Citigroup, Santander and Société Générale.