BME: IBEX-35 Non-Financial Corporations Are Now Funding Themselves More With Bonds Than Bank Lending - Analysis Of The Corporate Financing Structure

Spain’s leading listed non-financial corporations are contributing to creating a more stable, flexible and resilient financial system. Analysis produced by BME’s Research Department, based on audited accounts for a homogenous group of IBEX-35 non-financial corporations, shows that between 2010 and 2015 this group of companies increased their equity by 15.4% and lowered their debt financing by 12.2%. This was reflected in a close to 40% decline in bank lending and a concurrent 23% increase in the volume of Fixed Income issues.