Spain raised 15 billion euros from a 10-year bond sale on Wednesday on the back of record investor demand exceeding 130 billion euros, its Treasury said, adding this demonstrated investors' "high confidence" in the Spanish economy.
Demand surpassed the previous record of 97 billion euros Spain saw for a bond sale at the height of the COVID-19 pandemic in 2020.
Bond sales across Europe have attracted strong demand this week, providing good news for governments as they face high funding needs, and reflecting appetite from investors who expect hefty central bank rate cuts this year.
"The large demand, together with the high number of high-quality investors, reflects the Treasury's deep access to financial markets," it said in a statement.
Belgium saw a record 75 billion euros of demand for a 10-year bond sale on Tuesday, while Italy attracted nearly 150 billion euros of demand for two bonds.
The amount raised of 15 billion euros also matches the highest ever in Spain's history from the April 2020 bond sale, the Treasury said.
Wednesday's bond, maturing on April 30, 2034, will price at a yield spread of 9 basis points above Spain's outstanding bond due in October 2033, a lead manager said, down from around 11 basis points when the bond sale kicked off earlier on Wednesday.
The actual yield was 3.169%, the lead manager said.
The country, which intends to issue 55 billion euros worth of government bonds this year, hired Barclays, BBVA, Credit Agricole, Deutsche Bank, JPMorgan and Santander to sell the new bond through syndication.
($1 = 0.9142 euros)
