Borrowing costs fall at Spanish debt sale

Spain sold 4.2 billion euros of 2, 5 and 10-year debt on Thursday, beating the maximum target of 4 billion euros.

The Spanish Treasury sold 1.12 billion euros of bonds maturing in 2015 at an average yield of 2.54% vs 2.823% seen at the previous auction. 0.548 billion worth of paper maturing in 2019 was auctioned at an average yield of 4.275%, considerably down from the the previous 6.701%. 2.568 billion worth of bonds maturing in 2023 yielded 5.202%, compared with 5.290% seen in December.