(Bloomberg) -- Ahorro Corporacion Financiera SV,
the investment group owned by 43 Spanish savings banks, is
turning to U.S. investors as a property slowdown makes it harder
to sell mortgage bonds in Europe.
Ahorro Corporacion plans to sell at least $2 billion of
notes backed by home loans, the biggest dollar-denominated
offering of so-called covered bonds from Spain, said Luis
Sanchez-Guerra, head of capital markets in Madrid. Banco Bilbao
Vizcaya Argentaria SA, the second largest Spanish lender, plans
its first U.S. sale of covered bonds, using public sector loans
as collateral for $1.5 billion of debt, according to a July 6
report from Moody's Investors Service.
Read more at Bloomberg Bonds News
the investment group owned by 43 Spanish savings banks, is
turning to U.S. investors as a property slowdown makes it harder
to sell mortgage bonds in Europe.
Ahorro Corporacion plans to sell at least $2 billion of
notes backed by home loans, the biggest dollar-denominated
offering of so-called covered bonds from Spain, said Luis
Sanchez-Guerra, head of capital markets in Madrid. Banco Bilbao
Vizcaya Argentaria SA, the second largest Spanish lender, plans
its first U.S. sale of covered bonds, using public sector loans
as collateral for $1.5 billion of debt, according to a July 6
report from Moody's Investors Service.
Read more at Bloomberg Bonds News
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