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Repsol ready to test wholesale markets

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Posted By: The Corner 5th December 2011

MADRID | The Spanish press today echoes Repsol’s move, which has started sounding out investors to carry out a debt issuance after the relief brought by the drop to below the 350 b.p. in the Spanish risk premium.

“BBVA was the last Spanish firm that issued debt on the wholesale market. On October 28, the second major Spanish bank placed €750 million in senior debt at 18 months at a price of 250 basis point over midswap.

“This morning, Repsol, while the Spanish bond risk premium at 10 years is at about 340 basis points, started to sound out institutional investors to eventually carry out a debt placement.

“The oil company could issue a bond sale in euros after the presentation, which BBVA, BNP Paribas, Citigroup, Caixabank, Deutsche Bank and JP Morgan are organising.”

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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