HE public treasury Spaniards deposited 6,264.83 million euros According to data published by the Bank of Spain, the issuance of bonds and Government debts was within the expected high range and did so by increasing the profitability offered to investors.
High profitability levels maintained the markets’ investment appetite for Spanish securities in the last auction in January, with demand reaching 10,050.15 million euros.
Special, Public institution puts 3-year government bonds out to tenderWith 2.50% coupon; The remaining life is 6 years and 9 months and State debts with 1.25% coupon and 15 years State debts with 3.90% coupon.
The Treasury deposited 2,293.23 million euros in 3-year government bonds, of which 3,743.35 million euros were requested. 2.811% marginal interestabove the previous 2.592%.
In 15-year State obligations, the organization deposited 2,323.04 million euros with a demand of 3,383.05 million and the marginal interest was set at 3.637%, higher than the previous 3.593%.
Finally, for government debts with a remaining life of 6 years and 9 months, the Treasury collected 1,648.56 million dollars with a demand of 2,923.75 million with a marginal profitability of 2.961%.
On Tuesday, it reduced the interest offered to 1.997 million
It’s going to happen Second auction of the weekFollowing the borrowing on Tuesday, in which the Treasury issued a short-term loan of 1,997.76 million euros and deducted the fees offered to investors for both three-month and nine-month reference.
The auctions come at a time when retail investors continue to show great interest in purchasing debt, especially in the short term, given its high profitability.
In fact, retail investors increased their holdings to almost €23,000 million at the end of October; this represents over 31% of the total Letters in circulation; This is the maximum figure to date, compared to 2.4% at the end of the year. thus he became the main owner.
A month full of record demand for syndicated publications
The first month of the year attracted attention Issuance of 15 billion euros as a new 10-year syndicated bond with a maturity of April 30, 2024 It received a record demand of 138 billion euros.
The issued bond matures on April 30, 2034 and has a coupon of 3.25%, which is lower than the 3.55% coupon of the last 10-year issue in June 2023. The yield is at 3.259%, 9 basis points above 2023. The current 10-year baseline is shorter term, in October 2033.
They highlighted the quality and diversity in the allocation of this new State obligation, where demand was distributed among 512 investment accounts that were highly diverse both geographically and by type of investor.
2024 Treasury financing program
2024 Treasury financing strategy, financing about 55,000 million new for this year This represents a decrease of 10,000 million compared to 2023.
For its part, the expected gross issuance will amount to €257,572 million, an increase of 2% compared to 2023 due to the increase in depreciations, the bulk of which will be covered by the issuance of medium- and long-term instruments. Average life of the public debt portfolio.
Regarding the regular Treasury bond issuance, it is planned to hold 48 regular Government Bonds, Bonds and Debt auctions.
Additionally, in 2024, the Treasury will once again resort to syndication for the issuance of some Government Debt references. Another goal for 2024 is to continue diversifying the investment base and green bond issuance Using it as a structural element of the financing program and thus strengthening the sustainable finance market in Spain.