Spain issued bonds with maturity in 2066

Spain has placed on the market a 50-year state title. Following the example of Belgium who recently successfully priced titles in this length of time, even Madrid decided to refinance a maturing issue in 2066. Even Italy is considering to issue a 50-year bond, but for now nothing is yet planned by the Treasury. Interest in the very long-term emissions comes mainly from pension funds and insurance funds, in pursuit of higher returns to zero and at the same time to have in "investment grade securities portfolio". Spain in fact enjoys BBB + rating from Standard & Poo'rs and Fitch and Baa2 by Moody's.

The title of the Spanish state was placed via syndicated by a pool of international banks (Barclays, BNP Paribas, CaixaBank, Citigroup, Santander and Societe Generale) and was acquired mainly from the UK, Germany, Japan, United States and France.

The bond was priced at 99 for a total amount offered of 3 billion euro. The Spanish bond off a fixed rate coupon of 3.45% on July 30 of each year and the refund in one payment on maturity in 2066.