LONDON, Feb 22 (IFR) - The Kingdom of Spain has launched a
€5bn July 2033 syndicated euro bond issue at 120bp over
mid-swaps, according to a lead.
The notes were initially marketed at low 120s over
mid-swaps, with guidance at 121bp area over. Final order books
are in excess of €14.5bn, including €2.65bn of lead manager
Barclays, BBVA, HSBC, JP Morgan, NatWest Markets and
Santander are leading the trade which is expected to be priced
later today. JP Morgan is acting as duration manager.
Expected ratings for the 144A/Reg S Obligaciones del Estado
notes are Baa2/BBB+/BBB+/AL (all stable).
(Reporting by Robert Hogg, Editing by Helene Durand)