Valencia Needs Hispabonds to Meet Debt Payments, El Mundo Says

The Spanish region of Valencia will need so-called hispabonds as soon as June or July to guarantee its financial autonomy, El Mundo reported, citing unidentified local government officials.

Valencia needs to sell the bonds, which it can do jointly with another region, to meet debt payments and avoid having the central government take over its finances, the newspaper said. Other regions that may need the notes include Castilla La Mancha, Catalonia and Balearic Islands regions, El Mundo said.

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