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The Treasury pays a profitability of 3.818% for nine-month bills, new maximum


Madrid, Oct 17 (EFECOM).- The Spanish Public Treasury has placed this Tuesday 2,037 million euros in three- and nine-month bills which, in the case of the latter, have been awarded at a marginal interest of 3.818%, new maximum historical.

According to auction data collected by EFE, in nine-month bills the Treasury has awarded 1,478 million euros, and has paid for them that yield of 3.818%, higher than the 3.737% of the previous month.

In three-month bills, Spain has placed 559 million euros. The marginal yield applied to this type of debt has been 3.590%, also higher than the 3.490% in the past, and a new high since 2011.

Although the amount placed has been in the middle of the objective set by the Treasury (it ranged between 1,500 and 2,500 million euros), demand from investors has reached close to 5,400 million euros.

In this way, the auction ratio, the difference between what was demanded and what was finally placed, has been 2.6 times.

Today’s was the first bid planned by the Treasury this week, since according to the official calendar, this Thursday, it will offer the market ten-year bonds, other seven-year bonds, and others with a residual life of two years.

Likewise, today’s auction has coincided with a syndicated issuance of a fifteen-year bond linked to inflation launched by the Treasury, which will be the first placement of this type since 2018.

According to Bloomberg data collected by EFE, the Treasury has ordered Citi, Deutsche Bank, HSBC, JP. Morgan, Morgan Stanley and Societe Generale the issuance of the aforementioned fifteen-year syndicated bond (due on November 30, 2039), linked to the CPI.

In the same way, today’s bid was the first after the Treasury announced that it will reduce the net financing volume planned for 2023 by €5 billion.

The Treasury will end the year with a net issuance of public debt of 65 billion euros, having already completed 85% of the financing program planned for the entire year. EFE

mtd/ltm


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