SPAIN DEBT AGENCY (TESORO) SELLS TOTAL €5.91B VS. €4.5-5.5B INDICATED RANGE IN 2017, 2026 AND 2028 BONDS
- Sells €2.662B in 2.1% Apr 2017 bono; Avg Yield: 1.595% (EMU record low) v 2.182% prior; Maximum Yield: 1.62% v 2.203% prior; Bid-to-cover: 2.2x v 3.62x prior; Tail: 2.5bps v 2.1bps prior
- Sells €1.811B in 5.9% Jul 2026 Bono; Avg Yield 3.997% v 4.469% prior; Bid-to-cover: 1.41x v 2.41x prior; Max Yield: 4.012% v 4.488% prior; Tail: 3.5bps v 1.9bps prior
- Sells €1.442B in 5.15% Oct 2028 Bono; Avg Yield 4.199% v 4.192% prior; Bid-to-cover: 1.99x v 2.7x prior; Max Yield 4.223% v 4.198% prior; Tail: 2.4bps v 0.6bps prior
- Sells €1.811B in 5.9% Jul 2026 Bono; Avg Yield 3.997% v 4.469% prior; Bid-to-cover: 1.41x v 2.41x prior; Max Yield: 4.012% v 4.488% prior; Tail: 3.5bps v 1.9bps prior
- Sells €1.442B in 5.15% Oct 2028 Bono; Avg Yield 4.199% v 4.192% prior; Bid-to-cover: 1.99x v 2.7x prior; Max Yield 4.223% v 4.198% prior; Tail: 2.4bps v 0.6bps prior