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Spain to Join Green Rush With Debut Sovereign Bond Offering
Spain is the latest European nation turning to a hot market for green debt as it seeks to fund projects that mitigate climate change. The Treasury is due to offer a bond maturing in 2042 via banks Tuesday, and is looking to raise 5 billion euros ($5.9 billion), according to two people familiar with the matter. In an effort to ensure the inaugural sale is a success, the Treasury has a so-called ‘Early Bird Special’ that rewards investors placing earlier orders with a higher allocation. That hardly seems necessary given analysts already expect a rush of interest, and the nation’s peers have drawn huge orderbooks ... (full story)