MADRID Feb 19 Spain's Treasury sold 4 billion
euros ($5.3 billion) of 3- and 9-month debt on Tuesday, at the
top end of its targeted amount and at yields slightly lower than
a month earlier on the shorter-term paper.
The Treasury was aiming to sell between 3 billion and 4
billion euros of the debt.
Spain concentrated most of the sale on the 9-month paper, a
new maturity which replaces the 18-month T-bill at the monthly
auctions. The Treasury sold 3.1 billion euros of 9-month bills
at an average yield of 1.144 percent and a bid-to-cover ratio of
Spain sold 886 million euros of 3-month bills at an average
yield of 0.421 percent, slightly lower than the 0.441 percent
when it last sold in January. The bill was 5.8 times subscribed,
compared to 4.2 times previously.