Markets

Spain sells 4.6bn euros of debt at triple bond auction

Published April 19, 2018 Updated April 19, 2018 03:30pm

The Treasury had aimed to sell between 4 billion and 5 billion euros of debt at the auction.

The Oct. 31, 2022 bond sold 2.1 billion euros at an average yield of 0.194 percent and a bid-to-cover, a measure of demand, of 1.3. That compared to a previous yield of 0.294 percent and bid-to-cover of 1.45 when it last auctioned mid-March.

The benchmark 10-year, due April 30, 2028, sold 1.7 billion euros at a yield of 1.235 percent after 1.148 percent when it last sold April 5. Demand outstripped supply by 1.3 times compared to 1.5 times previously.

The longest-dated, July 30, 2033 bond, sold 757 million euros for 1.723 percent and at a bid-to-cover of 2.0. The bond sold mid-March for 1.875 percent with demand at 1.65.

Copyright Reuters, 2018