Following Greece’s lead earlier this week, Spain has concluded a successful bond sale. All 3 billion euros ($3.8 billion) of 15-year bonds offered by Spain were sold and analysts say the strong demand for the bonds should ease concern over Spain’s ability to cover its debt payments.
Spain, which has to repay 24.7 billion euros of debt this month, has the third-largest deficit in the euro region, and its banks are dependent on the European Central Bank for funds. Today’s auction raised the maximum offered at an average yield of 5.116 percent.
Source: Bloomberg