Spain raises $5 billion as it mulls financial help
Interest rate pressure eases as Spain beats target to sell $4.9 billion in debt auctions
MADRID (AP) -- Spain easily raised nearly €3.9 billion ($4.9 billion) as the government mulls whether to tap a financial facility that has been partly designed to ease the financial pressure on the country.
The Treasury sold €1.71 billion in 3-year bonds on Thursday at an average interest rate of 3.66 percent, unchanged from the last such auction earlier this month.
It sold €644 million in 5-year bonds at 4.52 percent, less than the 4.68 percent rate seen before.
It also raised €1.52 billion from the sale of bonds maturing in 2021 at a rate of 5.55 percent.
The sale exceeded the Treasury's targeted maximum of €3.5 billion and demand averaged twice the amount offered.
The government of recession-wracked Spain says it needs to know the conditions to any application for international help.
