MADRID - next victim rescue Spain easily raised euro3.4 billion ($4.9 billion) Wednesday at an auction of the long-term debt as the efforts of countries to ensure that it does become Europe.
The Treasury said it sold euro2.5 billion in bonds of 10 years, to an average 5.5% interest rate reaching 5.2% in the last such sale at auction on March 17. The application of the debt was more than double the quantity sold.
The Treasury also sold euro885 million in bonds for 15 years on average interest rate of 5.7%, down 6 percent in the last auction in December. The auction was also approximately double oversubscribed.
The amount was more or less consistent with expectations. The Agency had said he hoped to euro3.5 billion in long-term debt auction.
The results of the auction on Wednesday will be likely welcomed by the Spanish Government, which Monday, had to pay much higher rates in the auction of short-term debt.
Finance Minister Elena Salgado insists that Monday rate spike was temporary and stem of Greece debt market fears and speculation that Finland may block the future eurozone rescuesuch as a Portugal is in negotiations with the European Union and the IMF.
She said that Spain would continue to introduce reforms to restore confidence its economy and reduce its swollen deficit.
On the secondary market on Wednesday, the yield of bonds to 10 years in the country amounted to 5.46%, for a broadcast - or difference - percentage points about 2.14 with the German equivalent of reference. Although that downwards on Monday from 14: 30 rates, it is still in advance of the spread of the week last 1.7 percentage points.
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