Spain pays higher rates to raise 3.05bn euros

MADRID: Spain had to pay higher rates Tuesday to raise 3.05 billion euros ($3.72 billion) in short-term funds, coming under pressure again on the markets on concerns the country will need a full debt bailout.

The treasury said it sold 3-month bills at 2.434 percent, up from 2.362 percent at the last similar auction in late June, with 6-month bills rising sharply, to 3.691 percent from 3.237 percent.