Spain And France Raise Capital On Better Terms
The worries that sovereign in the eurozone will have problems raising capital now that their prospects have been downgraded by S&P have diminished. Spain and France each raise new debt at rates largely better than those paid just a month ago.…
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The worries that sovereign in the eurozone will have problems raising capital now that their prospects have been downgraded by S&P have diminished. Spain and France each raise new debt at rates largely better than those paid just a month ago.
The Wall Street Journal reports
Spain sold €6.61 billion (€8.5 billion), more than the €3.5 billion to €4.5 billion planned. With its January bond auctions, Spain has completed almost 20% of its 2012 targeted gross issuance of €86 billion.
And
Meanwhile France, stripped of its coveted triple-A rating by S&P, raised €7.965 billion in 2014-, 2015- and 2016-dated bonds, at the upper end of its €6.5 billion to €8 billion target range.
So much for the power of the ratings agencies to affect market perceptions.
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