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Spain sells 4 bln euros of short-term debt, top end of target
February 19, 2013 / 9:56 AM / in 5 years

Spain sells 4 bln euros of short-term debt, top end of target

MADRID, Feb 19 (Reuters) - 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 2.3.

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.

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