Spain sells 3.5bn euros of new 2017 bond

MADRID: Spain sold 3.5 billion euros ($4.7 billion) of a new 2017 bond on Thursday, almost completing its bond-issuance programme for 2013, a year in which financing costs have fallen to record lows from near-unsustainable highs.

The Treasury had aimed to sell between 2.5 billion and 3.5 billion euros of the bond and, on the auction's completion, had moved just over 99 percent of its debt issuance target for this year.

The April 30, 2017 bond sold at an average yield of 2.101 percent and was 2.5 times subscribed.