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Spain's power tariff bond issue approved by regulator

Source: Reuters - Tue 23rd Nov 2010

Spain's government won approval to issue 13.5 billion to 25 billion euros of state-backed bonds in a securitization of a power rate deficit, the securities regulator said on Tuesday.

The long-awaited issue is meant to ease a more than 14 billion euro deficit between retail power prices and power generation and supply costs, run up by utilities over the last 10 years.

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