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UPDATE 1-Spain raises 1 billion euros in first 50-year bond
September 1, 2014 / 3:51 PM / 3 years ago

UPDATE 1-Spain raises 1 billion euros in first 50-year bond

* Spain’s Treasury issues first-ever 50-year bond

* Covers 78.4 pct of 2014 medium and long term debt plans

* Aiming for 3 bln euros in 10- and 30-yr bonds on Thursday (Recasts with new 50-year bond issue)

MADRID, Sept 1 (Reuters) - Spain has raised 1 billion euros ($1.3 billion) in its first-ever 50-year bond issue, covering 78.4 percent of its medium- and long-term financing programme for this year, the Treasury said on Monday.

The bond, due on Oct. 31, 2064, with a 4 percent coupon, is aimed at spreading debt over a longer term and diversifying Spain’s investor base, the Treasury said in a statement.

“This issue demonstrates investors’ growing confidence in Spain’s economic recovery,” it said.

After six years of crippling economic downturn, Spain’s economy has outpaced most of its euro zone peers as internal demand recovers.

BBVA and CaixaBank were the bookrunners for the issue.

Spain also hopes to raise between 2 billion euros and 3 billion euros in 10- and 30-year bonds at an auction on Thursday. It is selling a bond due Oct. 31, 2024, with a 2.75 percent coupon, and a bond maturing Oct. 31, 2044, with a 5.15 percent coupon. (1 US dollar = 0.7614 euro) (Reporting by Tracy Rucinski; Writing by Sarah White; Editing by Ruth Pitchford)

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