Spanish treasury places 5.049 bln euros at lower yields

The Spanish treasury placed on Tuesday treasury bills to the value of 5.049 billion euros (5.847 billion U.S. dollars) on the market, paying lower interest rates than in previous auctions and registering a high demand of around 12 billion euros.

A total of 784 million euros worth of six-month treasury bills carried a marginal interest rate of 0.115 percent, which was below the 0.285 percent of the previous issue held last December.

The remaining, 4.264 billion euros worth of 12-month treasury bills fetched a marginal interest rate of 0.219 percent, also below the 0.369 percent of the previous issue.

So far, the Spanish treasury has placed 10.613 billion euros of medium and long term debt on the market, which has represented 7.5 percent of Spain's financial needs for the year. The Spanish treasury will hold another auction on Jan. 27. (1 euro = 1.16 U.S. dollars) Endit