The Public Treasury and the Ibex 35 companies face debt maturities in 2013 that exceed 320 billion euros. The Public Treasury will carry out gross issues worth 207,173 million next year that will serve, in part, to meet the maturities of more than 121,000 million pending for 2013 , according to primary market data.
In fact, the State Budget for 2013 contemplates the gross issuance of 207,173 million , of which 48,020 million correspond to the needs of net financing , 30% more than in 2012. The Government expects to increase the share of short-term debt term in the debt portfolio, to the detriment of longer instruments such as bonds or obligations, as investors show preference for shorter terms.
Public Debt Maturities
Debt maturities, meanwhile, will amount to 121,780 million next year, 6.3% less than 130,344 million in 2012. In this case, 61,419 million of the total due will correspond to bills and 60,361 to bonds and obligations. Specifically, the agency will face four key moments throughout the year (January, April, July and October), the months with the most maturities, but also those with the highest tax revenues, as is usually the case each year.
Maturities January 2013: 19,842 million euros.
Maturities April 2013: 21,587 million euros.
Maturities July 2013: 17,552 million euros.
Maturities October 2013: 22,155 million euros.
PUBLIC DEBT, AT 90.5%
Regarding interest, the Government estimates that, in cash terms, payments amount to 38,589 million , 3.63% of GDP. In national accounting, these expenses are 36,460 million, 3.43% of GDP.
With these issues and taking into account the impact of instruments such as the payment plan to suppliers or the credit for the refinancing of banks, the public debt will increase from the 85.3% expected by the Government for the closing of 2012 to 90.5 % of GDP
Maturities Debt company Ibex
As for the companies of the Ibex 35, if we still include Bankia among those chosen, for 2013 they must face maturities of 116 billion euros . Of this figure the bulk, about 90,2258 million euros , how could it be otherwise, corresponds to our banks (Santander, BBVA, Caixabank, Popular, Bankinter, Sabadell, Bankia). Outside the bank, the maturities facing FCC stand out , with 2,120 million euros or 27% of its debt. Mapfre with 664 million euros or 24% of its debt or Red Eléctrica with 800 million euros or 22% of its debt.