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Andalucía government sells debt to raise funds for first time since the financial crisis

  • Successfully sold 600 million euros of debt on the financial markets

The Junta de Andalucía has successfully sold 600 million euros of debt on the financial markets.

It is the first time that the regional government has sold bonds to raise funds since the financial crisis a decade ago after receiving the go-head from the national government.

The offer was over-subscribed and private companies from 11 nationalities bid for the investment. Those banks chosen to handle the sale of the debt were: BBVA, Santander, HSBC, Barclays and Credit Agricole. Over 40% of the 600 million was earmarked for final buyers outside Spain. The bonds are for ten years and have an interest rate of 1.875%.

The Junta said it was a sign that the markets had confidence in Andalucía's economy.