Spain Prices €5 Billion 4.65% 2025 Bond At 99.831, Midswaps + 0.85

Terms:

Amount:             EUR5 billion
Maturity:            July 30, 2025
Coupon:            4.65%
Reoffer Price:     99.831
Payment Date:   Feb. 24, 2010
Spread:              85 basis points over midswaps
Debt Ratings:     Aaa (Moody's)
                          AA+ (Standard & Poor's)
                          AAA (Fitch)

Underwriters:     BBVA, Credit Agricole, HSBC, Santander, SocGen

Comments

[Anonymous]

Is it just me or aren't those debt ratings way too high for one of the PIIGS countries?

[Anonymous]

How much are the rating companies receiving for their AAA(Fitch)
AA+ (S&P)
Aaa (Moody's)

we'll make you rich if you pay us mucho dinero?

Criminals all of them!!!!!!!!!!!!

[Anonymous]

Once they default the ratings will come down. C'mon .... get with the game !

[alexdg]

Meanwhile the next door neighbor also had a garage sale : 

DJ Portugal Sells EUR1B 12-Month T-Bills As Planned 

DOW JONES NEWSWIRES 

Portugal's Treasury and Government Debt Agency sold EUR1 billion of 12-month treasury bills at an auction, it said Wednesday. 

The following are details of the auction, with amounts in euros. Figures in brackets are data from the previous auction, held Feb. 3. 

Issue 12-month t-bills 
Maturity Feb. 18, 2011 
Amount on offer 1 bln 
Bids received 2.192 bln 
Bids accepted 1 bln 
Bid-to-cover ratio 2.19 (4.0) 
Average yield 1.173% (1.379%) 
Average price 98.828 (98.677) 
Maximum yield 1.224% (1.379%) 
Minimum price 98.778 (98.677) 
% of bids allocated 
at lowest price 5.11% (100.00%) 
Settlement day Feb. 19, 2010

Mind you, it was better than a week or so ago with the 1y - 300M€  bond issue that went for 1.379%, even though still 26% higher than the auction on the 20th of January at 0.928%.

[ReallySparky]

"garge sale", lol.

[yabs]

those ratings are just meaningless
The US is still grade AAA
and the subprimes were all AAA

[Anonymous]

if this trades down they will ban trading sovereign cds and place more bombs at the banks

[bugs_]

And since the fed probably bought these, they are AAA too.

[Bylinka (not verified)]

New Joint World’s Central Banks Mission Statement: To provide unlimited supply of various paper money to whoever needs it.

[Harbourcity]

This would be a non-story if the elitists weren't buying that crap with retirement savings.

[deadhead]

Dear Mr. Bernanke:

Thanks for your vote of trust in us today.

Sincerely,

Spain

[BernankeCo]

UK/J bought bonds from the US. Did the US by the way buy UK/J's bonds during the same period. An other way of "QE"? Anyone knows?

good articles: www.iamned.com

[Tom123456]

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