HE public treasury placed this thursday 6,891.8 million euros Close to the maximum target in the first bond and debt auction of the year 7.250 million expectedeven though he did it lower returnsAccording to data published by the Bank of Spain.
The investors’ demand, which reached 11 billion 362 million Euros, did not double the final agreed amount, but greatly exceeded this figure, proving the markets’ investment appetite for securities. debt Spaniards.
In its first issue since the appointment of former Secretary-General Carlos Body as Minister of Economy, Trade and Enterprise, the public institution has auctioned a new benchmark of three-year government bonds with a coupon of 2.50%. maturity May 31, 2027; Five-year government bond with 3.50% coupon, maturity May 31, 2029; 30-year Government debts with 1.90% coupon and maturity of October 31, 2052; and inflation-indexed Government debts with a coupon of 0.65% and a remaining life of three years and 11 months.
In case of new bond reference three yearsInstitution affiliated to the Ministry of Economy, 2,679.1 millionFacing a demand of 3.694 million With 2.592% marginal interestbelow 3.249% of the last reopening in this period.
Likewise, the Treasury also gave an award. 2,155.7 million euros in five-year bondsbelow the requested 3.586 million 2.628% marginal profitabilitylower than the 3.339% rate in the previous auction.
The organization deposited 1,457.7 million euros for 30-year liabilitiesfacing a demand of approximately 2 billion 517.8 million euros 3.698% marginal interest, This is below the 4.473% level in the previous auction of the reference.
Finally, Treasury provided inflation-indexed liability of 599.19 million euros, almost tripled (€1,564.19 million) in the face of much higher demand, and did so with a marginal profitability of 0.836%, below the previous 0.879%. The goal set by the organization was to raise donations between 250 and 750 million with this reference, so the amount finally tendered was double the planned minimum amount.
Ministry of Economy announcedThe decline in debt yields continues“This remains about 100 basis points below the October high, with the 10-year bond currently trading at 3.05%.”
This first issuance of the year of government bonds and debts The first tender will be held on January 9 letters of the year, 6 and 12 months.
Treasury closed 2023 with net issuance of 65 billion eurosThis represents a reduction of 5,000 million from the originally planned figure, thanks to the dynamism and further growth of the Spanish economy.
According to the Ministry of Economy, Trade and Enterprise, the Treasury “successfully” closed the 2023 financing program with “strong demand and high investor confidence in all issues despite the complex international context.”
For this reason, Total net issuance last year amounted to 65 billion euros; this was 5 billion less than originally expected.e, gross exports amounted to 252 billion euros.
The reduction in net financing is in line with the Government’s commitment to reduce the budget deficit and the debt/GDP ratio, which will fall to 108.1% in 2023 and 106.3% in 2024, according to the latest forecasts. Peak in 2021.
Source: Informacion
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