The Spanish government plans to issue about 30 billion euros ($39 billion) of so-called hispabonds to help regions of the country pay debt maturities and finance the deficit, El Mundo reported today, without citing anyone.
The sale of hispabonds, which would allow regions to issue debt jointly, is scheduled to start in June and is being designed by the economy ministry, the newspaper said.
More than half of the bond sale will be for Catalonia and Valencia, which have more than 16 billion euros of debt maturing this year, El Mundo said, adding that other regions facing big financial trouble include Castilla La Mancha, Murcia and Andalucia.
To contact the reporter on this story: Manuel Baigorri in Madrid at firstname.lastname@example.org
To contact the editor responsible for this story: Benedikt Kammel at email@example.com