After lowering the yield on newly issued one-year government bonds to a historic low two days ago, the Spanish Treasury issued 3.5 billion euros in government bonds on the 21st, likely completing the 2013 annual bond issuance plan ahead of schedule.
The newly issued bonds are three-year bonds, with market demand exceeding 8.8 billion euros on the same day, resulting in a subscription rate of over two times. The average yield of the bonds is 2.1%, slightly higher than the previous issuance.
Following this round of bond issuance, the Spanish Treasury has expanded the total financing amount from medium- and long-term bond auctions this year to 120.6 billion euros, covering 99.4% of the annual plan (121.3 billion euros), and is expected to achieve the 2013 bond issuance target one month ahead of schedule.
Currently, there are still five rounds of bond auctions scheduled on the Spanish Treasury's agenda for this year.
