Orders for Spain 5bn inaugural linker pass 20bn

Tue May 13, 2014 5:12am EDT

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LONDON, May 13 (IFR) - Books have closed for the Kingdom of Spain's inaugural eurozone inflation-linked transaction, as orders passed the 20bn mark, according to a lead manager on the trade.

The sovereign, rated Baa2/BBB-/BBB+, will price a 5bn issue at 107bp below the 3.8% April 2024 Spanish bond yield.

Barclays, BNP Paribas, CaixaBank, Deutsche Bank, Santander and Societe Generale are leading the deal, and contributed 1.95bn of orders.

The bond matures on November 30 2024 and is linked to the European Harmonised Index of Consumer Prices. It will be priced later on Tuesday. (Reporting by Helene Durand; editing by Alex Chambers)

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