Spain Set to Purge Banks of Real-Estate Hangover

Spain Set to Purge Banks of Real-Estate Hangover

Denis Doyle/Bloomberg

Investors demand 469 basis points of extra yield to own 18-month senior, unsecured notes sold by Banco Bilbao Vizcaya Argentaria SA rather than two-year German government debt, up from 341 basis points when Spain’s second-biggest bank raised 750 million euros from selling the debt on Oct. 28.