Information for Investors
Investors presentation
Issue
4th Issue (2011 Ocy. 13 th)
Fondo de Reestructuración Ordenada Bancaria (FROB) has completed successfully a new €1.4 billion benchmark issue. The bonds carry an explicit and irrevocable guarantee from the Kingdom of Spain,who is rated Aa2/AA-*/AA- by Moody’s, S&P and Fitch. Joint book runners have been Bankia, Barclays, Credit Agricole CIB, Santander GBM y Societe Generale CIB.
* Following this issue, S&P announced at midnight thursday, a downgrade in the Spanish credit rating from AA to AA-.
Third Issue (2011 Jul. 5 th)
Fondo de Reestructuración Ordenada Bancaria (FROB) has completed successfully on 2011 July 5th, a new €1.75 billion benchmark issue. The bonds carry an explicit and irrevocable guarantee from the Kingdom of Spain and were rated Aa2/AA/AA+ by Moody’s, S&P and Fitch. Joint book runners have been Barclays, BBVA, BNP Paribas, Deutsche Bank and Natixis.
Second Issue (2011 Jan. 27 th)
Fondo de Reestructuración Ordenada Bancaria (FROB) has completed successfully on 2011 January 27th, a new €3 bn benchmark issue. The bonds carry an explicit and irrevocable guarantee from the Kingdom of Spain and were rated Aa1/AA/AA+ by Moody’s, S&P and Fitch. Joint book runners have been CITI, HSBC, RBS, SANTANDER and SG CIB.
First Issue (2009 Nov. 12 th)
Fondo de Reestructuración Ordenada Bancaria (FROB) completed successfully on 2009 November 12th its inaugural Euro denominated Benchmark transaction. The issue carry an explicit and irrevocable guarantee from the Kingdom of Spain and was rated Aaa/AA/AAA by Moody’s, S&P and Fitch. Joint book runners were BBVA, BARCLAYS, CALYON, DEUTSCHE BANK and HSBC.
- Moody’s: A1 (updated 2011 October 19th)
- Standard & Poors: A (updated 2012 January 24th)
- Fitch: A (updated 03.02.2012). Presale 1st report (oct. 09)
- Partial transcript of the relevant aspects of the order that provides the guarantee of the Central Government to secure obligations to the FROB arising from several types of financial instruments
- Order of the Ministry of Economy and Finance, amending the Guarantee Order and extending the deadline to arrange the transactions secured by the guarantee of the State till December 2016
- Treatment of the debt instruments issued by the Fund of Ordered Bank
Restructuring for the determination and control of minimum equity. (RWA)
- Consideration of the debt instruments issued by the Fund of Ordered Bank Restructuring (FROB) guaranteed by the Government as guarantee assets (collateral) in monetary policy operations of the European Central Bank.
Another relevant information:
The translations of the legal texts available on this web page have been prepared exclusively for information purposes, in any case of discrepancy the Spanish version shall prevail.