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Spain sells 2 bln euros of bonds, yields mostly lower
December 13, 2012 / 10:16 AM / 5 years ago

Spain sells 2 bln euros of bonds, yields mostly lower

MADRID, Dec 13 (Reuters) - Spain’s Treasury sold 2 billion euros of bonds on Thursday, hitting its target for the auction and with yields falling on two medium-term issues but rising on a rare long bond.

The longest-dated bond, due July 30, 2040, with a 4.9 percent coupon, sold 540 million euros and was 2.1 times subscribed, compared to 2.0 times when it was last sold over three years ago.

The bond sold at an average yield of 5.893 percent, compared to 4.738 percent when it last sold in March 2009.

Spain sold 681 million euros of a bond maturing Oct. 31, 2015, with a 3.75 percent coupon, at an average yield of 3.358 percent compared to a previous 3.390 percent when it was last sold on the primary market on Dec. 5.

Demand was much higher than the previous auction, with the bond 4.8 times subscribed compared to 2.0 percent.

The Treasury also sold 803 million euros of a bond maturing July 30, 2017, with a 5.5 percent coupon. The bond had a bid-to-cover ratio of 3.1 compared to 2.6 when it last sold Nov. 22.

The yield was 4.200 percent, below the November yield of 4.477 percent.

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