MADRID: Spain sold 4.6 billion euros ($6.4 billion) of debt at a triple bond sale on Thursday, beating the top end of the target range as appetite for relatively high-yielding Spanish debt remains strong.
The auction aimed to raise between 3.5 billion and 4.5 billion euros.
The Treasury sold 1 billion euros of a bond due April 30, 2017, at an average yield of 1.039 percent, compared to 1.022 percent at the last auction April 24.
The bond was 3.2 times subscribed compared to 3 times previously.
The April 30, 2020 bond sold 2.5 billion euros, though demand exceeded supply by 2.5 times after 1.5 times when it last went to market on Dec. 15, 2011.
The bond sold for an average yield of 1.9 percent, a long way from a yield of 5.201 percent more than two years ago.
The 14-year bond, due Oct. 31, 2028, sold for an average yield of 3.514 percent, down from 3.846 percent on March 20.
Investors were sold 1.1 billion euros with a bid-to-cover ratio of 2.5 after 1.9 previously.
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