MADRID Jan 3 Spain's second largest bank BBVA
said it had issued 1.5 billion euros ($1.96 billion)
in senior bonds on Thursday, the first corporate debt issuance
of 2013 as companies struggle to raise funds in nervous markets.
The bonds are due Jan. 17, 2018, with a 3.75 percent coupon
and sold for 295 basis points over midswaps, revised down from a
guidance of midswaps plus 310 bps, according to IFR, a Thomson
Reuters news and market analysis service.
The issuance was handled by BBVA, Commerzbank, Goldman
Sachs, HSBC and Societe Generale.
Spain has been the focus of international investor nerves in
the midst of the euro zone debt crisis on fears it cannot
control its finances, but debt premiums have fallen from
euro-era record highs in July.
Many investors expect Spain to apply for international aid
to trigger a bond-buying programme by the European Central Bank
which would help reduce Spanish funding costs further and open
debt markets to credit-starved corporates.