Spain Alone in Lifting 2013 Bond Sales as Aid Looms
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Spain will be alone in asking bond buyers for more cash next year, as five of the euro-region’s six biggest borrowers reduce the amount for sale, according to estimates from Lloyds Banking Group Plc and Morgan Stanley.
Spain sold 97.1 billion euros ($128 billion) of bonds this year, exceeding its funding target without assistance from the European Central Bank’s bond buying program. While Germany, Italy, France, the Netherlands and Belgium are forecast to lower the amount of debt they sell in 2013, Spain probably will raise its issuance to 110 billion euros, said Achilleas Georgolopoulos, a fixed-income strategist at Lloyds in London.