Spain Senior Unsecured Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-09-10
https://bondscovery.com/yield-curve/usd-corporate-senior-unsecured-spain-callable
Spain Senior Unsecured Callable Corporate Bond Yields (USD) as of 2026-09-10: 10Y at 6.05%, fitted curve 1M–20Y (4.68%–6.53%), 45 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.68% | — |
| 6M | 4.75% | 4.83% |
| 9M | 4.79% | 4.99% |
| 12M | 4.84% | 4.99% |
| 18M | 4.92% | 5.16% |
| 2Y | 5.00% | 5.33% |
| 3Y | 5.15% | 5.56% |
| 4Y | 5.29% | 5.83% |
| 5Y | 5.42% | 6.09% |
| 6Y | 5.54% | 6.38% |
| 7Y | 5.67% | 6.72% |
| 9Y | 5.93% | 7.28% |
| 10Y | 6.05% | 7.71% |
| 15Y | 6.40% | 7.75% |
| 20Y | 6.53% | 7.48% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.00% and the 10-year 6.05%, a 10Y−2Y spread of +105 bp — positively sloped — as of 2026-09-10. The chart and table below track how they have moved.
Fitted 2Y and 10Y yields and their spread, sampled one build date per month. See all inverted curves today →
| Tenor | Latest2026-09-10 | 1m ago2026-08-11 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-13 | 5m ago2026-04-13 | 6m ago2026-03-13 |
|---|---|---|---|---|---|---|---|
| 2Y | 5.00% | 4.81% | 4.85% | 4.74% | 4.65% | 4.72% | 4.33% |
| 10Y | 6.05% | 5.91% | 6.06% | 5.89% | 5.91% | 5.93% | 5.92% |
| 10Y − 2Y | +105 bp | +110 bp | +120 bp | +115 bp | +125 bp | +122 bp | +160 bp |
Yields by rating group
The same curve split by credit quality: 48 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: A+ to BBB- 5.25%, Speculative 7.13%.
Bonds in this curve
A selection of 30 of the 48 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Banco Santander SA | 4.61% | 2026-10-05 | 3.24% | US80282KAZ93 |
| Telefonica Emisiones SAU | 5.05% | 2027-03-08 | 4.10% | US87938WAT09 |
| Banco Santander SA | 4.58% | 2027-04-11 | 4.25% | US05964HAB15 |
| Banco Santander SA | 5.06% | 2027-07-13 | 4.40% | US80282KAP12 |
| Banco Santander SA | 4.85% | 2027-08-18 | 5.29% | US05964HAS40 |
| Banco Santander SA | 4.91% | 2028-02-23 | 3.80% | US05964HAF29 |
| Banco Santander SA | 5.24% | 2028-03-14 | 5.55% | US05964HBA23 |
| Banco Santander SA | 5.03% | 2028-04-12 | 4.38% | US05964HAJ41 |
| Bbva | 5.64% | 2028-09-14 | 6.14% | US05946KAL52 |
| Repsol SA | 4.99% | 2028-09-16 | 4.80% | US76026AAA51 |
| Grifols SA | 5.51% | 2028-10-15 | 4.75% | US39843UAA07 |
| Bbva | 4.88% | 2029-03-13 | 5.38% | US05946KAQ40 |
| Bbva | 5.12% | 2029-09-03 | 4.98% | US05946KAY73 |
| Banco Santander SA | 5.31% | 2029-12-10 | 5.62% | USP1507SAL18 |
| Banco Santander SA | 5.31% | 2030-03-14 | 5.54% | US05964HBB06 |
| Repsol SA | 5.30% | 2030-09-16 | 5.20% | US76026AAB35 |
| Repsol SA | 5.25% | 2030-09-16 | 5.20% | USU7603CAB29 |
| Bbva | 5.57% | 2031-05-08 | 4.97% | US05946KAX90 |
| Bbva | 5.79% | 2031-06-03 | 5.40% | USP2000GAB97 |
| Enfragen Energia SUR S.A.U. / Enfragen Chile SPA / Enfragen Spain S.A.U. | 7.53% | 2032-06-30 | 8.50% | US29281MAA80 |
| Enfragen Energia SUR S.A.U. / Enfragen Chile SPA / Enfragen Spain S.A.U. | 7.45% | 2032-06-30 | 8.50% | USE4181MAA74 |
| Banco Santander SA | 5.50% | 2033-11-07 | 6.94% | US05964HAZ82 |
| Repsol SA | 5.97% | 2035-09-16 | 5.98% | US76026AAC18 |
| Bbva | 5.92% | 2036-03-03 | 5.13% | US05946KAU51 |
| Telefonica Emisiones SAU | 6.21% | 2036-06-20 | 7.04% | US87938WAC73 |
| Telefonica Emisiones SAU | 6.18% | 2038-03-06 | 4.67% | US87938WAV54 |
| Cellnex Finance Company SA | 6.44% | 2041-07-07 | 3.88% | USE2943JAA72 |
| Cellnex Finance Company SA | 6.27% | 2041-07-07 | 3.88% | US15118JAA34 |
| Telefonica Emisiones SAU | 6.60% | 2047-03-08 | 5.21% | US87938WAU71 |
| Telefonica Emisiones SAU | 6.60% | 2048-03-06 | 4.89% | US87938WAW38 |