The bonds are due Jan. 17, 2018, with a 3.75 percent coupon and sold for 295 basis points over midswaps, revised down from a guidance of midswaps plus 310 bps, according to IFR, a Thomson Reuters news and market analysis service.

The issuance was handled by BBVA, Commerzbank, Goldman Sachs, HSBC and Societe Generale.

Spain has been the focus of international investor nerves in the midst of the euro zone debt crisis on fears it cannot control its finances, but debt premiums have fallen from euro-era record highs in July.

Many investors expect Spain to apply for international aid to trigger a bond-buying programme by the European Central Bank which would help reduce Spanish funding costs further and open debt markets to credit-starved corporates.

Center>Copyright Reuters, 2013