Spain Sells 3 Billion Euros of Bonds, Easing Funding Concerns

Updated

Spain sold 3 billion euros ($3.8 billion) of 15-year bonds, easing worries that the nation would struggle to meet its debt obligations.

Demand for the bonds was 2.57 the amount sold, Bloomberg News reported. The bonds yielded 5.116%, compared with 4.434% for a similar debt sale in April.

"The Spanish auction went well," Chiara Cremonesi, a strategist at UniCredit Research in London, told Bloomberg News. "Appetite for Spanish paper is alive."

Spain has to repay 24.7 billion ($31.6 billion) euros of debt this month, and has the third-largest deficit in the eurozone.

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