This Wednesday, the Public Treasury has placed 15,000 million euros in a new 10-year syndicated bond with expiration April 2035 for which it has received a record demand of 139,000 million euros, which has allowed the cost of financing to be reduced by three basis points, remaining at 5 basis points above the profitability of the current 10-year reference.
This bond issued has a 3.15% coupon and the profitability has stood at 3.18%lower than the 3.45% coupon of the last 10-year issue carried out in May 2024.
Regarding the demand for this new obligation, distributed across 481 investment accounts, the Non-resident investors have reached a participation greater than 85.1% with those from the United Kingdom and Ireland being the most interested in the national debt (28.7%), followed by the French and Italians (16.4%), those from Germany, Austria and Switzerland (7.7%) and the Scandinavian countries (7.1%). The rest of the European investors have represented 16.1% of the allocation. While the United States and Canada accounted for 3%, Asia 4% and the Middle East 1.8%. The weight of the rest of the investors has been 0.3%.
Based on the type of investor, more than a third of those interested have been fund managers, followed by central and official institutional banks (20%), bank treasuries (17.4%) and insurance companies and pension funds (14.7% ).
With this transaction, the Treasury completes 15.5% of its financing program in just one month, with an issuance of 27,432 million euros to date. The average life of the State debt in circulation reaches 7.81 years and the average cost of the Treasury securities portfolio is 2.224%.
The Treasury gave a mandate to BBVA, Banco Santander, Crédit Agricole, Deutsche Bank, JPMorgan and Morgan Stanley to place this first syndicated debt issue of the year.
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