Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Caja Madrid May Offer to Exchange Up to $24 Billion of Bonds

Caja Madrid, Spain’s second-largest savings bank, plans to swap as much as 17 billion euros ($24 billion) of bonds for new longer-dated debt.

The lender will exchange government-guaranteed securities, senior unsecured notes and covered bonds due in 2012 and 2013, said two people with knowledge of the transaction. The swap may include bonds issued by Bancaja, a lender that’s merging with its larger counterpart Caja Madrid, the people said.

Holders of Caja Madrid’s government-guaranteed debt will get new notes with state backing, while investors in senior and covered bonds will receive comparable debt or securities with state guarantees, said the people, who declined to be identified before a public announcement.

Some of the new securities may also be offered to new investors, the people said.

A Caja Madrid spokesman, who declined to be identified citing company policy, wouldn’t comment on the transaction.

Covered bonds are backed by mortgages or public-sector loans and are guaranteed by the issuer.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.