Tax & Revenue BOE Importance: 3/10

Authorization for Segregation and Reconstitution of State Bonds and Obligations

23 May 2026 Effective: 11 May 2026 1 views
Who is affected:
Institutional investors, financial entities and public debt managers

Summary

The Ministry authorizes technical operations on Spanish public debt that allow the separation and regrouping of State bonds and obligations to facilitate their trading in financial markets.

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This ministerial order authorizes the segregation and reconstitution of certain State Bonds and Obligations, operations known as public debt 'strips'. Segregation allows separating the principal and coupons of a bond into independent securities, while reconstitution is the reverse process. These operations are common i…

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Full official title

Orden ECM/500/2026, de 11 de mayo, por la que se autoriza la segregación y reconstitución de determinados Bonos y Obligaciones del Estado.

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