MADRID, April 18 Spain sold 4.7 billion euros ($6.13 billion) in medium- and long-term debt at a triple-bond auction on Thursday, beating the top end of its target and with the yield on the benchmark 10-year bond at its lowest in three years.
The Treasury had planned to sell between 3.5 billion and 4.5 billion euros from the auction of the three bonds.
The benchmark 10-year bond, due Jan. 31, 2023, sold 1.3 billion euros at an average yield of 4.612 percent, compared to 4.898 percent when it last ran March 21. The paper was 2.6 times subscribed compared to 1.9 times in March.
Spain sold 1.4 billion euros of a bond due July 30, 2016 at an average yield of 2.792 percent compared to 3.019 percent when it last sold at a primary auction on April 4. The bid-to-cover ratio was 2.8, up from 1.9 earlier this month.
The Treasury saw yields on the Jan. 31, 2018 bond fall to 3.257 percent from 3.557 percent mid-March. On Thursday it placed 2.0 billion euros of the paper, which was 2.5 times subscribed. The same bond was 3.6 times subscribed last month.