SPAIN: Spain’s new 5-year Floating Rate Bono del Estado order book
is “progressing well” and is in excess of E1.0bln, a source familiar
with the deal told Market News International. “We expect this to be
today’s business”, added ths source. Spain opened books for new 5-year
FRN issue Wednesday at guidance of 3-month euribor +45 basis points
area. Lead banks for the 5-year FRN, which has a maturity of March 2015,
are BNP Paribas, Caja Madrid and Deutsche Bank.