Cecabank is designated a market maker by the EU and will place Next Generation EU Recovery Fund debt

16 September 2021

  • The EU has included Cecabank within the network of 41 European institutions to place its bond and bill issues for an amount of €750 billion until 2026
  • Cecabank, a market maker for Spanish Treasury public debt, is one of the three Spanish institutions, together with BBVA and Santander, that will participate in the largest debt programme in the history of the EU
  • The bank's customers will have access to primary market auctions and syndicated placements

Madrid, 16 September 2021

Cecabank has been designated by the European Union as a member of the European market maker network (Primary Dealer Network). The first EU issues in which it will participate will be the macro debt issues that will finance the Next Generation EU Recovery Fund, the €750 billion aid package for Europe's economic, green and digital transformation. A total of 140 billion of this is expected to go to Spain, which will allow the economy to be transformed and create new opportunities in the aftermath of the severe crisis generated by the COVID-19 pandemic.

Cecabank is currently a market maker for Spanish Treasury public debt, a role it has been playing since the nineties, and will become part of the network of 41 institutions designated by Brussels to place the issues of the Next Generation EU fund. The fund is set to issue €750 billion, 30% of which will be in the form of green bonds. To date, the EU has issued €53 billion worth of debt, of the nearly €80 billion it expects to issue this year.

Cecabank thus becomes one of the three Spanish institutions, together with BBVA and Banco Santander, that will work with the European Commission on the largest debt programme in the history of the EU and will participate in the ordinary auctions, as well as having the possibility of acting as lead or co-lead manager in syndicated issues.

For Luis Soutullo, Cecabank's Corporate Finance Director, 'this designation reinforces Cecabank's positioning and vocation as a market maker and will bring significant advantages to its customers, as they will have access to primary market auctions of all paper issued by the EU, to syndicated placements and to first-hand market information, through an institution with which they have a close relationship and from which they receive personalised attention'.

Cecabank has a Trading Room that offers all kinds of products to its customers and covers most of the world's financial markets. Thus, Cecabank makes it possible to operate on the (public and private) bond markets, on the foreign exchange market and on the equity market, among others.

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