Spain issues 2.5 billion euros in bonds, demand solid
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Spain issues 2.5 billion euros in bonds, demand solid

www.reuters.com   | 19.04.2012.

MADRID (Reuters) - Spain's Treasury issued 2.5 billion euros ($3.3 billion) in 2- and 10-year bonds on Thursday, at the top end of the targeted amount and on solid demand, though yields ticked higher than on the longer dated paper than a previous auction in January.
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However, yields on both bonds came in slightly below that registered on the secondary market just before the primary sale.

The Treasury sold 1.1 billion euros of a bond maturing October 31, 2014 at an average yield of 3.463 percent and a bid-to-cover ratio of 3.3, compared to a ratio of 2.0 at the last auction in October.

Spain also sold 1.4 billion euros of the benchmark bond due January 31, 2022, at a yield of 5.743 percent. The bond was 2.4 times subscribed, after 2.2 times at the last primary auction in January when the bond sold at an average yield of 5.403 percent. ($1 = 0.7621 euros)

(Reporting By Madrid Newsroom; Writing by Paul Day; Editing by Martin Roberts)


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