Spain sets spread on 15-year bond after orders top EUR6bn

Tue Jul 9, 2013 5:40am EDT

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LONDON, July 9 (IFR) - The Kingdom of Spain, rated Baa3/BBB-/BBB, has fixed the spread on its new 15-year bond at mid-swaps plus 280bp, after collecting over EUR6bn of orders on Tuesday, a banker managing the deal said.

The final spread is unchanged from guidance, and initial price thoughts, and indicates that the bonds will price to yield around 5.2% later on Tuesday.

BBVA, BNP Paribas, CaixaBank, Credit Agricole CIB, Credit Suisse are managing the deal, Spain's longest-dated issue since March 2011. (Reporting by John Geddie; editing by Alex Chambers)

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