autonomous communities

autonomous regions

Spanish Regions Ahead Of Central Government In ESG-Linked Bonds Funding

Last week the Spanish Treasury made its debut in green debt issuance. However, the autonomous communities are ahead of the pack. As told in an analyis of Scope Ratings, sovereign lending became the primary funding source for Spanish regions as the euro area debt crisis hampered access to capital markets. Madrid, the Basque Country and Andalusia have come to market this year, raising so far an aggregate 3.5 Bn euros in ESG-linked bond.

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The chart of the Spanish regions’ debt

MADRID | The chain of default warnings is getting larger. If the regions of Murcia and Catalonia confirm they need help from the €18-billion central fund to repay its debt maturities, as Valencia explicitly did on July 20, the autonomous bailout would reach so far €7.7 billion. Of them, €6 billion could be made available with almost immediate effect, as Loterías del Estado would be the lender. The regions’ short-term…