Spain raises 4 bln euros at higher costs in bond auction
2013-07-04 17:46:05
Spain raised 4.00 billion euros (5.20 billion U.S. dollars) at higher interest rates in auction of three- and five-year bonds on Thursday.
A total of 2.98 billion euros worth of treasury bonds with a five-year lifespan carried an average interest rate of 3.79 percent. It was the first time the Spanish treasury auctioned these bonds.
The remaining 1.02 billion euros worth of bonds with a three-year lifespan fetched an average interest rate of 2.86 percent, above 2.71 percent of the previous auction held in June and the highest interest rate for three-year bonds since April.
The Spanish stock market has been suffering tensions recently due to the political uncertainty in Portugal, where two ministers resigned.
The Spanish treasury will hold three more auctions this month, on July 16, 18 and 23. (1 euro = 1.30 U.S. dollars)