Spain Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-09-10
https://bondscovery.com/yield-curve/usd-corporate-spain-callable
Spain Callable Corporate Bond Yields (USD) as of 2026-09-10: 10Y at 6.17%, fitted curve 1M–20Y (4.67%–6.52%), 49 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.67% | — |
| 6M | 4.74% | 4.83% |
| 9M | 4.79% | 4.99% |
| 12M | 4.83% | 4.99% |
| 18M | 4.93% | 5.19% |
| 2Y | 5.02% | 5.39% |
| 3Y | 5.21% | 5.69% |
| 4Y | 5.39% | 6.08% |
| 5Y | 5.56% | 6.45% |
| 6Y | 5.71% | 6.77% |
| 7Y | 5.85% | 7.03% |
| 9Y | 6.08% | 7.30% |
| 10Y | 6.17% | 7.45% |
| 15Y | 6.43% | 7.44% |
| 20Y | 6.52% | 7.18% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 5.02% and the 10-year 6.17%, a 10Y−2Y spread of +115 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 | 5.02% | 4.82% | 4.82% | 4.69% | 4.61% | 4.71% | 4.29% |
| 10Y | 6.17% | 5.88% | 5.93% | 6.03% | 5.80% | 5.94% | 5.94% |
| 10Y − 2Y | +115 bp | +107 bp | +112 bp | +134 bp | +119 bp | +123 bp | +164 bp |
Yields by rating group
The same curve split by credit quality: 54 rated bonds across 3 rating bands, all maturities pooled. Median yield by band: AAA to AA- 4.49%, A+ to BBB- 5.25%, Speculative 7.08%.
Bonds in this curve
A selection of 30 of the 54 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 | 4.49% | 2027-12-12 | 4.50% | US80283LBB80 |
| Banco Santander SA | 4.91% | 2028-02-23 | 3.80% | US05964HAF29 |
| 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 |
| 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 |
| AI Candelaria Spain S.A. | 7.32% | 2033-06-15 | 5.75% | USE0R75RAB28 |
| 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 |
| Iberdrola | 5.81% | 2036-07-15 | 6.75% | US29266MAF68 |
| 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 |