A wave of chunky deals in Spain means average size of an equity capital markets deal this year has risen to $1.2 billion – the highest year to date since records began in 1996. Spain’s ECM bankers are now betting on those mega deals to continue.

Spanish companies are issuing equity at a rate faster than any previous year. Dealogic records 22 deals worth an average of $1.2 billion, overtaking the total of 19 at this time last year.