Investors are devouring the debt that Spanish companies issue to finance themselves. As proof, Naturgy closed a placement of debt at 6 and 11 years in which the The requests were seven times higher than the amount collected.
The company issued bonds for a common value of 1,000 million eurosobtaining strong support from investors, a total of 233, from 22 different countries, highlighting Germany (29%), France (21%), the United Kingdom (13%). Market sources explain that Naturgy has previously made a significant roadshow This has sparked interest.
The first tranche, with a maturity of 6 years, offers an annual coupon of 3.25%. The second, at 10 years, will pay an annual coupon of 3.625%. This is your first bond issue senior since 2020The funds raised will be used for the bond buyback offer announced Monday, which will extend the average life of the debt.
Morgan Stanley, Barclays, CaixaBank, Citi, ING, Intesa San Paolo, Société Générale, BBVA, Natixis, Santander, SMBC and Unicredit participated in the operation.
Spanish listed companies are taking advantage of the return from vacation to raise financing, in a context where interest rates continue to fall since the European Central Bank (ECB) began lowering them in June. This Monday, it was Iberdrola that closed the largest senior debt issue in its history, on a day when Banco Santander also closed a bond issue. In recent weeks, other large listed companies such as Repsol, Telefónica, BBVA and CaixaBank have contracted debt.
