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Spain eyes electricity tariff bond issue in Jan 2011

Source: Reuters - Wed 29th Dec 2010

Spain plans to issue the first tranche of a bond in January which is designed to gradually take 16.5 billion euros in government-backed debt off utilities' books, Industry Minister Miguel Sebastian said on Wednesday.

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"We expect the first securitisation to take place in January, but we cannot specify a date. In fact, it can be counter-productive to specify a date from a market standpoint," Sebastian told a news conference.