Spain raises $5 billion as it mulls financial help

  • Associated Press
  • November 22, 2012 - 5:17 AM

MADRID - Spain easily raised nearly (EURO)3.9 billion ($4.9 billion) as the government mulls whether to tap a financial facility that has been partly designed to ease the financial pressure on the country.

The Treasury sold (EURO)1.71 billion in 3-year bonds on Thursday at an average interest rate of 3.66 percent, unchanged from the last such auction earlier this month.

It sold (EURO)644 million in 5-year bonds at 4.52 percent, less than the 4.68 percent rate seen before.

It also raised (EURO)1.52 billion from the sale of bonds maturing in 2021 at a rate of 5.55 percent.

The sale exceeded the Treasury's targeted maximum of (EURO)3.5 billion and demand averaged twice the amount offered.

The government of recession-wracked Spain says it needs to know the conditions to any application for international help.

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