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Spain sells 5.5 Bln of debt

Source: Xinhua - Wed 21st May 2014
Spain sells 5.5 Bln of debt

The Spanish Treasury on Tuesday placed treasury bills worth €3.515 bln on the market, registering a high demand of more than 9.3 billion euros and placing more than expected.

A total of €924 mln worth of 3-month treasury bills carried an average interest rate of 0.295%, slightly below the 0.324% of the previous auction held in April.

The remaining €2.590 bln worth of nine-month treasury bills fetched an average interest rate of 0.552%, which was slightly above the 0.465% of the previous issue.

After the auction, Spain's risk premium stood at around 168 points, while Spain's 10-year bond interest rate stood at around 3.033%.

The Treasury will hold another auction on Thursday when it expects to place between €2.5 and €3.5 bln.

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