Comment
0
Tweet
0
Print
RSS Feeds

Spain raises $5 billion as it mulls financial help

Thursday - 11/22/2012, 2:34pm  ET

MADRID (AP) -- Spain easily raised nearly EUR3.9 billion ($4.9 billion) as the government mulls whether to tap a financial facility that has been partly designed to ease the financial pressure on the country.

The Treasury sold EUR1.71 billion in 3-year bonds on Thursday at an average interest rate of 3.66 percent, unchanged from the last such auction earlier this month.

It sold EUR644 million in 5-year bonds at 4.52 percent, less than the 4.68 percent rate seen before.

It also raised EUR1.52 billion from the sale of bonds maturing in 2021 at a rate of 5.55 percent.

The sale exceeded the Treasury's targeted maximum of EUR3.5 billion and demand averaged twice the amount offered.

The government of recession-wracked Spain says it needs to know the conditions to any application for international help.


Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.