Spain May Use State-Owned Loterias to Sell Debt, Expansion Says

The Spanish government is considering using the state-owned lottery operator Sociedad Estatal Loterias y Apuestas del Estado to issue 6 billion euros ($7.6 billion) of debt, Expansion reported.

The gaming company, which makes 3 billion euros a year in profit, may receive a higher credit rating than the Spanish sovereign helping to reduce the state’s financing costs after government bond yields reached a record yesterday, the newspaper reported, citing people with access to the plans without identifying them.

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