Spain opens books for 20-year green bond, demand tops €55 bln
Spain opens books for 20-year green bond, demand tops €55 bln MADRID, Sept 8 (Reuters) - Spain's Treasury said on Tuesday it had opened books for a syndicated 20-year green bond issue due in July 2047.
Initial demand exceeded €55 billion for an issue expected to raise around €4 billion, the Treasury said.
The initial price guidance was set at around 10 basis points over Spain's 3.45% July 2043 bond, capital markets news service IFR said.
The Treasury said the order book highlighted strong investor appetite for Spanish sovereign debt and reflected continued market confidence in the Spanish economy.
The bond is being issued under Spain's green bond programme, which finances environmentally sustainable expenditure.
Barclays, BBVA, Credit Agricole CIB, J.P. Morgan, Morgan Stanley and Santander have been selected as lead managers.
Pricing of the deal is expected later on Tuesday.
(Reporting by Emma Pinedo; Editing by Charlie Devereux)
((emma.pinedo@thomsonreuters.com; +34 918 35 68 34;))