Spain Corporate Bond Yields (USD)
Fitted spot curve as of 2026-09-11
https://bondscovery.com/yield-curve/usd-corporate-spain
Spain Corporate Bond Yields (USD) as of 2026-09-11: 10Y at 6.08%, fitted curve 1M–20Y (4.68%–6.47%), 61 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.68% | — |
| 6M | 4.75% | 4.84% |
| 9M | 4.80% | 5.00% |
| 12M | 4.85% | 5.00% |
| 18M | 4.94% | 5.19% |
| 2Y | 5.03% | 5.38% |
| 3Y | 5.20% | 5.65% |
| 4Y | 5.36% | 6.00% |
| 5Y | 5.51% | 6.32% |
| 6Y | 5.65% | 6.60% |
| 7Y | 5.78% | 6.83% |
| 8Y | 5.89% | 7.03% |
| 9Y | 5.99% | 7.18% |
| 10Y | 6.08% | 7.30% |
| 15Y | 6.36% | 7.42% |
| 20Y | 6.47% | 7.33% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.03% and the 10-year 6.08%, a 10Y−2Y spread of +105 bp — positively sloped — as of 2026-09-11. 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 | Latest2026-09-11 | 1m ago2026-08-12 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-14 | 5m ago2026-04-14 | 6m ago2026-03-16 |
|---|---|---|---|---|---|---|---|
| 2Y | 5.03% | 4.83% | 4.79% | 4.70% | 4.63% | 4.60% | 4.35% |
| 10Y | 6.08% | 5.86% | 5.83% | 5.84% | 5.78% | 5.66% | 5.80% |
| 10Y − 2Y | +105 bp | +104 bp | +104 bp | +114 bp | +115 bp | +106 bp | +146 bp |
Yields by rating group
The same curve split by credit quality: 66 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.49%, A+ to BBB- 5.31%, Speculative 6.85%.
Bonds in this curve
A selection of 30 of the 66 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 | 4.42% | 2027-03-08 | 4.10% | US87938WAT09 |
| Banco Santander SA | 4.58% | 2027-04-11 | 4.25% | US05964HAB15 |
| Banco Santander SA | 4.75% | 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 | 5.29% | 2028-03-14 | 5.55% | US05964HBA23 |
| Banco Santander SA | 4.94% | 2028-04-12 | 4.38% | US05964HAJ41 |
| Bbva | 5.48% | 2028-09-14 | 6.14% | US05946KAL52 |
| Repsol SA | 5.11% | 2028-09-16 | 4.80% | US76026AAA51 |
| Repsol SA | 4.96% | 2028-09-16 | 4.80% | USU7603CAA46 |
| Banco Santander SA | 5.23% | 2029-04-15 | 4.60% | US05971KAX72 |
| Banco Santander SA | 5.12% | 2029-06-27 | 3.31% | US05971KAC36 |
| Banco Santander SA | 5.31% | 2030-03-14 | 5.54% | US05964HBB06 |
| Banco Santander SA | 5.40% | 2030-05-28 | 3.49% | US05971KAF66 |
| Banco Santander SA | 5.51% | 2031-03-25 | 2.96% | US05964HAM79 |
| Banco Santander SA | 5.54% | 2031-04-15 | 4.87% | US05971KAV17 |
| 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 |
| AI Candelaria Spain S.A. | 7.32% | 2033-06-15 | 5.75% | USE0R75RAB28 |
| Iberdrola | 5.83% | 2033-09-15 | 6.75% | US29266MAE93 |
| Banco Santander SA | 5.80% | 2035-01-17 | 6.03% | US05964HBK05 |
| Banco Santander SA | 5.83% | 2035-11-06 | 5.13% | US05971KAS87 |
| Bbva | 5.92% | 2036-03-03 | 5.13% | US05946KAU51 |
| Banco Santander SA | 5.90% | 2036-04-15 | 5.44% | US05971KAW99 |
| Telefonica Emisiones SAU | 6.21% | 2036-06-20 | 7.04% | US87938WAC73 |
| 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 |