Spain sells 4.2 bln euros of debt at triple bond sale
MADRID Feb 21 (Reuters) - Spain sold 4.2 billion euros ($5.6 billion) of debt at a triple bond sale on Thursday, beating the top end of the target amount and at rates on the shorter-dated paper lower than when it last sold early February.
The bond due March 31, 2015, sold 1.1 billion euros at an average yield of 2.54 percent, compared to 2.823 percent when it last issued Feb. 7. The bond was 3.7 times subscribed after 2.2 times earlier this month.
The bond due Oct. 31, 2019, sold 548 million euros at a yield of 4.275 percent and a bid-to-cover ratio of 2.5. The paper last sold July 2012 at a yield of 6.701 percent and was 2.9 times subscribed.
The 10-year benchmark bond, with maturity at Jan. 31, 2023 and a coupon of 5.4 percent, sold 2.6 billion euros at an average yield of 5.202 percent and was 1.6 times subscribed. The bond was first introduced in a syndicated debt sale Jan. 22 when it sold 7 billion euros.