Spain happy with sale €6 billion in syndicated 10-year bonds

Spain sells €6 billion in 10-year bonds

MADRID — Spain says it successfully sold €6 billion in syndicated 10-year bonds, an operation indicating investors’ confidence in the troubled economy.

Fincance Ministry spokesman Juan Frances Escudero said “demand was very high. There was a lot of interest from investors at home and abroad.”

He said the issue Tuesday was priced at mid-swaps plus 195 basis points and demand rose to €13 billion.

Spanish financial daily Cinco Dias said the sale boosted trading on Madrid’s Ibex stock exchange by more than 3 percentage points.

Spain, which is struggling to emerge from nearly two years of recession, is fighting speculation it will need a bailout to help it manage its debt.