Market sources have said it is the first time that Popular is financed under the Treasury has started since almost 20 basis points below the curve of the body. This issue is the largest operation made by the bank since 2010.
As reported by the entity, the issue managed to attract investor appetite and reached 2 times oversubscribed. “The support that capital markets provide the bank with a very positive response both at international investors-with 79% of the demanda– and domestic, which accounted for the remaining 21% was thus confirmed,” he says.
Specifically, 31% of the demand has come from Germany, Austria and Switzerland, 9% of UK and Ireland, 8% of the United States, other Benelux 8%, 7% Italy and France 5%. The demand for the issue, very diversified, it consisted of 112 orders. As for the type of investor, 45% were fund managers, central banks 25% and 20% banks.
Throughout this year, People’s Bank has issued a total of 3,500 million: 500 million in senior debt from 74% of international investors, 2,250 million euros in bank bonds issued –in March 1000 million with a coupon of 1%, the lowest historical rate for Popular within ten years– and 750 million in Additional Tier 1, was placed in full and in a few hours from international qualified investors.
The company points out that the only support for access to capital markets is determined by the knowledge that institutional investors have the business model People, “its ability to generate profits in the medium and long term and its solvency”.
The issue of Popular has agreed in today’s session with the Treasury, which has managed to place this morning at 4186.05 million letters to 3 and 9 months, with lower interest rates than in the previous auction and negative rates in the case of 3-month bills, so investors Spanish become payable by reference.
Information Cinco Dias
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