July 3, 2014 / 9:05 AM / in 3 years

Spain sells 4.51 bln euros of debt at double bond sale

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MADRID, July 3 (Reuters) - Spain sold 4.51 billion euros ($6.14 billion) of medium and long-term debt at lower yields at auction on Thursday, although demand for the bonds fell from previous sales.

The Treasury had aimed to sell 3.5 billion to 4.5 billion euros of a new 5-year and a 30-year bond.

Spanish bond yields have fallen to record lows across all its maturities in recent months, thanks to an improving economic outlook and European Central Bank plans to keep monetary policy loose.

The Treasury sold 3.6 billion euros of the new 5-year bond with a bid-to-cover ratio of 1.4 times and an average yield of 1.568 percent.

The 30-year paper sold 863 million euros at an average yield of 4.043 percent after 4.519 percent in February. It was 1.8 times subscribed after demand outstripped supply by 2.9 times at the last auction. ($1 = 0.7331 Euros) (Reporting by Elisabeth O'Leary, Editing by Julien Toyer)

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