AIAF, BME’s Corporate Debt Market, has admitted to trading a new unsecured bond issue by Canal de Isabel II, to the value of 500 million euros, which combines English and Spanish Laws.
The term of the issue is ten years and the securities’ nominal value is 100,000 euros, with an interest rate of 1.680%. The issue’s rating is Baa2 by Moody's and BBB + by Fitch.
Banco Santander, BBVA, CaixaBank, HSBC France and Société Générale act as Joint Lead Managers and BNP Paribas as Payment Agent.
Julio Alcántara, director and CEO of AIAF noted that "this issue evidences the signs of recovery seen in the corporate debt market. By combining Spanish and English Laws it builds on the advantages now offered by the Spanish market and its tax treatment is homologated ".