By
GCI Financial |
Fundamental Analysis | Sep 15, 2011 06:58AM GMT |
FRANFURT (MarketWatch) -- The Spanish government on Thursday sold 3.95 billion euros ($5.4 billion) worth of off-the-run, or non-benchmark, bonds due to mature in 2019 and 2020. The Treasury said it sold 1.5 billion euros of Oct. 2020 bonds at a maximum yield of 5.19% versus a yield of 5.22% in a February auction. The sale saw bids exceed supply twice over, compared to a bid-to-cover ratio of 1.54 in February. Spain also sold 1.4 billion euros of April 2020 bonds at a maximum yield of 5.05% versus 4.9% in a June auction. The auction was covered 2.01 times versus 1.9 in June. A sale of 1 billion euros of July 2019 bonds produced a maximum yield of 5% versus 4.07% in April 2009. The sale was covered 2.7 times versus 1.9 in the previous auction.
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