Spanish bonds ease market tension
Source: Agencies |
July 16, 2010, Friday
|
Print Edition
Print Edition
SPAIN raised nearly 3 billion euros (US$3.85 billion) in 15-year bonds yesterday, easing market tension over its ability to find financing amid a heavy debt load and frail economy.
Demand for the bonds more than doubled the amount on offer and helped allay fears that Spain could need a bailout like Greece earlier this year.
"This result confirms that appetite for Spanish paper is alive," analysts at UniCredit Research said, adding that it was "a remarkable result."
The average interest rate was 5.116 percent, up from 4.43 percent for the same bonds in April.
Demand for the bonds more than doubled the amount on offer and helped allay fears that Spain could need a bailout like Greece earlier this year.
"This result confirms that appetite for Spanish paper is alive," analysts at UniCredit Research said, adding that it was "a remarkable result."
The average interest rate was 5.116 percent, up from 4.43 percent for the same bonds in April.
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