MW:Spain sells 3.75 bln euros of bonds, yields rise
By William L. Watts
FRANKFURT (MarketWatch) -- The Spanish government on Thursday sold a total of 3.75 billion euros ($5 billion) of bonds, with yields rising in the wake of increased turmoil in Europe's debt markets. Spain's Treasury sold 1.2 billion euros of a bond due to mature in April 2015 at an average rate of 5.20%, up from 3.64% in October. Bids exceeded supply 2.7 times, up from 2.1 in October. An auction of 1.4 billion euros of a Jan. 2017 bond produced an average yield of 5.54%, up from 4.78% in October. The bid-to-cover ratio was 2.69 versus 1.80 in October. The Treasury also sold 1.15 billion euros of a Jan. 2016 bond, with an average yield of 5.28% and a bid-to-cover ratio of 2.83.
