Spain Said to Plan Lottery Bonds for Regional Bailouts
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Spain is planning to sell bonds through its state-run lottery operator to help fund the bailouts of regional governments, according to two people familiar with the matter.
The issue will be part of a 6 billion-euro ($7.8 billion) financing through Sociedad Estatal Loterias & Apuestas del Estado SA, which is also raising a syndicated loan, the people said. The central government in Madrid is putting together an 18 billion-euro rescue fund for local authorities.