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Spain sells 4.5 billion euros of debt at bond sale

Published 05/03/2018, 05:08 AM
Updated 05/03/2018, 05:10 AM
© Reuters.  Spain sells 4.5 billion euros of debt at bond sale

MADRID (Reuters) - Spain sold 4.5 billion euros ($5.4 billion) of debt on Thursday at a four-bond auction with yields mixed as investors watch monthly euro zone preliminary inflation data while the European Central Bank plans to roll back its stimulus scheme.

The Treasury had aimed to sell between 500 million and 1 billion euros of an inflation-linked bond due 2021, and between 3.5 billion and 4.5 billion euros in three other bonds due 2021, 2028 and 2066.

The inflation-linked bond sold 690 million euros at an average yield of -1.578 percent and a bid-to-cover, a measure of demand, of 2.7. That compared to a yield of -1.183 percent while the bid-to-cover was unchanged from when the bond last sold in December.

The January, 2021 bond sold 1.4 billion euros at an average yield of -0.145 percent after -0.232 percent when it last sold in April. The bond was 2.7 times subscribed compared to 3.1 previously.

The benchmark 2028 bond sold 1.3 billion euros at an average yield of 1.288 percent after 1.235 previously mid-April. The bid-to-cover was 2.0 after 1.3 last month.

The longest-dated 2066 bond sold 1.1 billion euros at a yield of 2.664 percent and a bid-to-cover of 2.1. The bond last sold in November at a yield of 3.192 percent and with demand outstripping supply by 1.5 times.

($1 = 0.8339 euros)

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