Cajas call for extension to Government bond issue

 

Spain's El Pais daily newspaper has reported how Spanish banks and regional cajas have asked the government to extend their government-backed bond issues for a further six months of more following the current December deadline.

The country's lenders currently hold 61.6 billion euros in bonds and are now having difficulties financing themselves, and would issue an additional 70 billion euros of government-backed bonds, according to the paper.

It is also reported that both lenders and cajas may have requested Spain's deputy finance minister Jose Manuel Campa for the extension to the December deadline.