NEW ISSUE: Basque Government €500m (WNG) 9yr Sr Unsec; SPGB+9a
IGC European Market: Deal Flow - SSA
Issuer
Term
Maturity
Size
Ranking
Type
Guidance
ISIN
Basque Government
9yr
31-Oct-35
€500m (WNG)
Sr Unsec
Fixed
SPGB+9a
ES0000106783
Guidance: 9yr: SPGB+9a (equiv. MS+45a)
Issuer: Basque Government
Ticker: BASQUE
LEI: 959800SNQAKVSTR20G68
Issuer Ratings: A2/AA-/A+ (Moody's/S&P/Fitch)
Expected Issue Ratings: A2/A+ (Moody's/Fitch)
Format: RegS Cat 1, Dematerialise Book-entry form (No sales into Canada)
Size: €500m (WNG)
Ranking: Senior, Unsecured
Status: Risk weighted 0%, LCR Level 1
Global Coordinators: BBVA and Kutxabank Investment
Joint Bookrunners: Banco Sabadell, BBVA (B&D), CaixaBank, Deutsche Bank, ING, Kutxabank Investment and Santander
Settlement: 19-Jun-26 (T+8)
Maturity: 31-Oct-35 (Long 9 year)
Guidance: SPGB + 9bps area (equiv. MS +45bps area)
Coupon: Fixed, Annual, Act/Act, long first coupon
Benchmark Ref: SPGB 3.20% 31-Oct-35 (MID)
Use of Proceeds: General budgetary purposes
Min Denominations: €1,000 plus €1,000
Listing: Bolsa de Bilbao
Governing Law: Spanish
Docs: Exempt from prospectus requirements in Spain. Spanish public debt tax regime. No events of default. No tax gross up
Target Market: The target market for the Bonds is professionals and eligible counterparties (all channels for distribution), each as defined in MIFID II
Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities. Details of the fee may be made available to investors on request from your usual sales contact