MADRID: Spain on Thursday sold 5.9 billion euros ($6.7 billion) of debt in a quadruple bond auction at higher yields, ahead of a European Central Bank (ECB) meeting where the central bank is expected to cut inflation forecasts and promise to ramp up its bond-buying programme.
The Treasury hit the top end of its target to sell between 4 billion and 5 billion euros of ordinary bonds plus between 500 million and 1 billion euros of inflation-linked bonds this week.
Spain sold 2.2 billion euros in 10-year debt, with yields on the bond due Oct 31, 2025 and carrying a 2.15 percent coupon rising to 2.128 percent compared to 1.917 percent when it was last sold on August 6. It also sold bonds due in 2020 and 2044 at higher yields.
The inflation-linked bond, due Nov 30, 2024, sold at a yield of 1.173 percent, higher than the 0.859 percent yield when it was last sold in November.
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