Spain begins bidding in November with 89% of financing already captured By EFE

Madrid, Oct 31 (.) .- The Spanish Public Treasury will open the auctions for the month of November next Thursday, the 4th, and will do so with 89% of its liquidity needs forecast for the whole year already captured.

To date, the Treasury has obtained some 155,600 million euros within the medium and long-term liquidity program planned for 2021 (that 89%), which reaches 174,399 million euros.

Last July, the Treasury reduced the volume of net financing planned for the whole year by 20,000 million euros. Thus, the net issuance is 80,000 million, and the gross, 269,157 million.

The bulk of the gross financing for 2021 is maintained through the issuance of medium and long-term instruments, a total of 174,399 million, and to a lesser extent through bills, 94,758 million.

After concluding the October auctions, the Treasury will open the November auctions this week. The first of these will be held on Thursday, and four different denominations of bonds will be offered to investors.

Specifically, seven and ten-year obligations, other obligations that mature in 2046 (residual life of twenty-five years) and others indexed to inflation due in 2030 (residual life of nine years and one month).

Already on November 10, he will auction six and twelve month bills; on the 16th, letters at three and nine months; and on the 18th, bonds and obligations of the State.

In the last auction, held on October 21, Spain sold 5,053.5 million euros in five-year bonds and 15-year obligations that, in both cases, were awarded at a higher marginal interest.

And this, as a consequence of the rise in the interest of sovereign debt in Europe and the United States due to investors’ fear of a permanent increase in inflation that will hinder the economic recovery after the crisis caused by the pandemic.

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