The demand, from 221 investment accounts, finally totalled 14.62 billion euros and the volume issued amounted to 5 billion euros. Demand was very diversified in terms of both type of investor and geographic region. This enabled the Treasury to place the issue with quality investors.
The participation of non-resident investors accounted for 64.1% of the syndication. The United Kingdom participated the most with 21.1%, followed by the United States and Canada with 11.9%, Germany, Austria and Switzerland with 8.3%, Scandinavia with 6.0%, Asia and the Middle East with 5.9%. These were followed by France with 4.7%, Italy with 3.2%. and other European investors with 3.0%.
In terms of type of investor, the largest percentage was taken up by banks with 31.3% of the total, followed by fund managers with 30.9% and insurance and pension funds with 15.6%. Leveraged funds accounted for 12.4% of the total issue, followed by central banks and official institutions with 8.8% of the total.
With this syndication worth 5 billion euros, the Treasury has issued instruments worth a total of 114.25 billion euros so far this year, of which 73.63 billion form part of the medium- and long-term financing programme. This figure represents 51.9% of the forecast medium- and long-term issues for the entire year included in the Spanish Treasury Financial Programme announced on January 13 of this year (142 billion euros).
Banco Santander, CaixaBank, Citi, HSBC, J.P. Morgan and Morgan Stanley have acted as lead banks for the bond issue. The rest of the group of market-makers for government bonds and debentures have acted as co-leaders.
