MADRID: Spain sold 3.1 billion euros ($4.22 billion) of 3- and 5-year bonds at auction on Wednesday at record low yields after the European Central Bank released billions of euros into the banking sector, anchoring short-term interest rates around zero.
The Treasury had aimed to sell between 2 billion and 3 billion euros of the two bonds.
The Treasury sold 1.5 billion euros of a bond due April 30, 2017, at an average yield of 0.876 percent, down from 0.968 percent at the last auction June 5.
The bond was 2.1 times subscribed compared to 2.0 times earlier in the month.
The July 30, 2019 bond, with a 4.6 percent coupon, sold 1.6 billion euros with demand exceeding supply by 2.3 times and at an average yield of 1.402 percent.
A comparable five-year bond, with a 2.75 percent coupon, was last auctioned June 5, at a yield of 1.520 percent and a bid-to-cover of 1.8.
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