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Bankia issues 750 million euros in 7-year non-preferred senior bonds

The entity, with this operation, complies with its 2019 Financing Plan, ending the year with 3.5 billion issues, a figure that represents a very positive balance of market access.
 

Bankia Comunicación

By  Bankia Comunicación

Publish on 
05 November 2019 - 17:00

  • Requests have been received from investors in the amount of more than 2,000 million euros
  • More than 160 investors have participated in the issue
  • The issue was closed with an annual coupon of 1.125%, equivalent to midswap (market reference rate) plus 125 basis points.

Bankia, taking advantage of the good condition of the market, today closed the placement of a seven-year senior non-preferred bond issue for an amount of 750 million euros.

Market sources explain that the issue has generated demand in excess of 2.5 times the volume issued and that it has made it possible to improve the final terms of the operation. Thus, the issue was closed with a coupon of 1.125%, 20 basis points below the initial price indications (midswap +145 basis points). The spread of the issue is set at 125 basis points.

With this operation, Bankia has complied with its 2019 Financing Plan, ending the year with 3.5 billion euros, which represents a very positive balance of market access.

The issue has received orders from 160 investors, of which 70% correspond to international investors and 30% to domestic demand. In terms of the distribution of investors by nationality, 30% corresponds to Spain, 22% to the United Kingdom and Ireland, 13% to Nordic countries, 12% to France, 11% to Germany and Austria, and 8% to Benelux and 4% to Italy.

By type of investor, 76% were asset managers, 17% were banks, 4% were insurance companies and 3% were central banks.

The entities in charge of the placement were Bankia, Barclays, Commerzbank, Natixis and Unicredit.

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