Spanish treasury places USD 6B on market

MADRID, (PNA/Xinhua) — The Spanish treasury on Tuesday placed treasury bills to the value of 4.545 billion euros (USD 6.067 billion) on the market, paying lower interest rates than in previous auctions.

The auction could be considered a success as the treasury exceeded expectations when selling more than between 3.5 and 4.5 billion euros and registered a high demand of more than 9.1 billion euros.

A total of 991.78 million euros worth of six-month treasury bills carried an average interest rate of 0.08 percent, falling from the previous 0.146 percent of July.

The remaining 3.554 billion euros worth of 12-moonth treasury bills fetched an average interest rate of 0.16 percent, below the 0.294 percent of the previous auction held in July.

So far, the Spanish treasury has covered around 77.6 percent of Spain’s financial needs for the year placing around 100.343 billion euros on the market. The treasury will hold another auction on Thursday. (1 euro = USD 1.34).