January 23, 2018 / 5:14 PM / 8 months ago

Distribution stats for Spain's April 2028 bond

LONDON, Jan 23 (IFR) - Final books for Spain’s €10bn 1.4% April 2028 bond were over€43bn, including €6.25bn lead interest, with strong demand coming from Germany, Austria and Switzerland at 24.9%, followed by Spain at 21.8%, UK/Ireland at 21%, France/Italy at 10.7%.

Banks bought the biggest chunk at 31.8%, pension funds/insurance followed at 29.8% while fund managers took 23.4% and hedge funds 7.4%.

For full details, please see below. Issue: Spain €10bn 1.4% Apr 2028 long 10yr at MS+46 / B+88.8 / 99.513 / 1.451% Pricing date: Jan 23 2018 Ratings: Baa2/BBB+/A-/AL Leads: Barc/BBVA/Citi/HSBC/NWM/Santan Pricing steps: MS+50 area, MS+46 Book size: > €43bn (including €6.25bn from JLM) NIP: 2.5bp Distribution: Ger/Aus/Switz 24.9%, Sp 21.8%, UK/Ire 21%, Fr/It 10.7%, Nordic 5.0%, Other EU 8.7%, US/Canada 5.9%, ME 0.7%, Asia 0.7%, Other 0.7%. Banks 31.8%, Pens/Ins 29.8%, Fund Mgr 23.4%, Hedge Fund 7.4%, CB/OI 4.9%, PB 1.5%, Corp 0.3%. (Reporting by Helene Durand, Editing by Sudip Roy)

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