The Government of the Canary Islands has successfully closed its long-term financing operations for the year 2025 with the collection of a total volume of 607.3 million euros, which will be used to refinance the ordinary debt maturities for this year.
Fifteen financial institutions have participated in this operation, submitting offers for a total volume of 2,728.5 million euros, almost five times the required amount. For the General Directorate of Treasury and Financial Policy, the high interest shown by these figures reflects the market's confidence in the financial soundness of the autonomous community.
The financing strategy for 2025 has focused on optimizing the cost compared to the Treasury, adapting to the Government's financing strategy, and positively valuing the non-inclusion of break costs.
In this way, the regional government has maintained a balance between loans and bonds, with a final distribution of 76% at a variable rate and 24% at a fixed rate, subscribing a total of 11 operations with 9 financial institutions. The average life of the portfolio is 8.7 years, with an average cost of -3.7 basis points, lower than that of the Public Treasury debt.
At the close of the 2024 financial year, the Autonomous Community of the Canary Islands has positioned itself among the four autonomous communities with a lower debt-to-GDP ratio, with 11.4%, below the 13% limit established by the Organic Law of Budgetary Stability and Financial Sustainability (LOEPSF). It should be noted that the Canary Islands has complied with this legal reference since 2023.
The Canary Islands also stands out significantly in terms of per capita debt, registering the lowest figure in the entire country, with 2,909 euros per inhabitant. This figure contrasts drastically with the most indebted autonomous community, marking a difference of more than 8,000 euros per resident.
