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Spanish Treasury raises 4 bln euros in bond auction


09:35, November 28, 2012

MADRID, Nov. 27 (Xinhua) -- The Spanish treasury on Tuesday placed on the market treasury bonds worth 4.087 billion euros at favorable interest rates.

A total of 1.482 million euros' worth of three-month bonds had an average interest rate of 1.254 percent, which is below the 1. 415 percent rate of the previous issue held last October. The marginal interest rate also fell from 1.45 percent since the last auction to 1.3 percent.

The remaining 2.605 billion euros' worth of six-month bonds carried an average interest rate of 1.669 percent, which is below the 2.023 percent rate of the previous issue. The marginal interest rate was 1.7 percent, which is below the 2.10 percent rate from the last auction.

The Spanish treasury had captured 90.234 billion euros in auctions in 2012 before the start of November, enough to allow the country to pay debt maturities of 105 percent in the short and medium term for 2012.

Despite the pressure Spain had to face on the markets over the last months, the Ministry of Economy and Competitiveness believes the low interest rates are a reason for cautious optimism in the future and could lower pressure on the government in asking for bailout, after the previous difficulties in financing itself on the markets.

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