Spain's Criteria Caixacorp declared that it has decided to launch a bond issue of 1 billion euros ($1.49 billion).

However, the group failed to offer further details.

Criteria is the investment division of Spain's biggest savings bank La Caixa.

In a declaration to Spain's stock market regulator, Criteria stated that its top management would decide the conditions of the issue and that it was booking the right to not carry through with the deal if market conditions were not favourable.