Spain sells 4.5 bn euros at bond auction

07 Feb, 2019

The Treasury had aimed to sell between 3 billion and 4 billion euros of the three bonds due 2021, 2026 and 2033, and between 500 million and 1 billion euros of an inflation-linked bond due 2030.

The inflation linker, due November 2030, sold 773 million euros at an average yield of 0.252 percent and a bid-to-cover - a measure of demand - of 3.9. That compared to a yield of 0.239 percent and bid-to-cover of 2.2 last time the bond ran August 2.

The Oct 2021 bond sold 1.2 billion euros at an average yield of -0.086 percent, after -0.047 percent when it last ran in January. The bond saw demand of 1.9 after 2.1 previously.

The July 2026 bond sold 1.1 billion euros at a 0.862 percent yield compared to 0.953 percent in July, and with a bid-to-cover of 2.1 after 1.4 last year.

The longest-dated, July 2033 bond sold 1.5 billion euros at an average yield of 1.776 percent after 2.116 percent when the bond last sold in November, with demand outstripping supply by 1.5 times after 1.4 times previously.

Copyright Reuters, 2019

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