Spain auctions over 4 bln euros of treasury bills at lower cost
2013-08-28 14:49:05
The Spanish treasury on Tuesday successfully placed 4.166 billion euros (5.582 billion U.S. dollars) of treasury bills on the market at lower borrowing costs.
A total of 1.106 billion euros worth of treasury bills with three-month lifespan carried an average interest rate of 0.155 percent, considerably below the 0.442 percent in July.
The remaining 3.060 billion euros of treasury bills with nine-month lifespan fetched an average interest rate of 1.089 percent, below the 1.152 percent in the auction held last month.
Tuesday also saw the Spanish National Institute of Statistics (INE) publish new data about Spain's 2012 gross domestic product (GDP): the country's GDP contracted by 1.6 percent in 2012, instead of 1.4 percent as the INE had previously predicted. The revising-down was due to lower domestic demand. (1 euro = 1.34 U.S. dollars)