New Spanish corporate-bond exchange targets smaller firms

Bolsas y Mercados Españoles has started a corporate-bond exchange intended to give small and mid-sized firms a way to obtain financing amid tight bank loan conditions. "There are financial restrictions for many companies that are absolutely solvent and competitive, and that's where the government needs to act," Spanish Finance Minister Luis de Guindos said. The Fixed-Income Alternative Market "is one of the instruments that I believe will channel financing for companies from next year."

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