Barcelona-based CaixaBank sells €1 billion in 3.5 year-bonds at a 2.5%

Barcelona (ACN).- The Catalan CaixaBank, which is Spain’s main retail bank, announced on Monday that it has sold €1 billion in 3.5 year bonds. The €2.8 billion market demand made the issue price drop from 180 to 170 basic points on ‘midswap’, which is the reference index for this sort of corporate bonds. The issue interest was set at 2.5% and the issue cost represents 18.5 basic points over the Spanish Treasury Debt’s price. The new issue by CaixaBank is part of the bank’s financial plan for 2013, which aims to strengthen CaixaBank’s liquidity, set to reach 64.604 billion by 30th June.

CaixaBank declares that “it will take all the opportunities” to grow in the Spanish market

On Monday, CaixaBank’s Financial Director, Gonzalo Gortázar, also highlighted that the Catalan bank’s aim is to centre its activity throughout the Spanish market, without abandoning international markets. Gortázar highlighted that it is necessary to “optimise” investments throughout the world and be “strong” in the Spanish market, without “capital distractions” abroad. The Financial Director stressed that CaixaBank is “part of the solution” to the problems of the Spanish financial system. For all these reasons, they “will study all the opportunities” to grow within the domestic market and “will take them” if they are profitable. In addition, Gortázar stated that the Spanish economy is at an “inflexion point”, waiting to start the recovery.