Updated on
Summary The Treasury sold 1.51 billion in 10-year bonds at an average interest rate of 5.46 percent.
Spain has raised €4.6 billion ($6 billion) at a sharply lower cost amid growing expectations that the cash-strapped country will soon make a request for international help to deal with its finances.The Treasury sold €1.51 billion in 10-year bonds Thursday at an average interest rate of 5.46 percent, down from 5.66 percent in the last such auction Sept. 20. It also sold €1.46 billion in five-year bonds at 3.98 percent, down from 4.60 percent, and €1.64 billion worth of three-year bonds at 3.23 percent, which was below last times 3.68 percent.Demand was more than twice the amount offered.Spain says it will soon decide whether to look to tap a European Central Bank bond-buying program largely designed to keep a lid on its borrowing costs.
