25 March 2015 – Expansión
The entity has completed a 10-year mortgage bond issue amounting to €1,000 million.
The placement carries a coupon of 1%, the lowest historical rate for Popular in the last ten years. The most recent bond issue made by Popular in April 2014 carried a coupon of 2.125% and had a five and a half year term.
Specifically, 78% of the demand for the bond issue has come from international investors. It has managed to attract a lot of investors and achieve an oversubscription of 1.4 x.
In terms of the nationalities of the international investors: 31% were from Germany and 15% were from the UK and Ireland. Demand for the bond issue was highly diversified, comprising 80 orders. By type of investor, 47% were fund managers, 32% were central banks and 19% were banks.
Original story: Expansión
Translation: Carmel Drake