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© Reuters. The Treasury wants to raise up to 2,000 million in its last auction of the year
Madrid, Dec 13 (.) .- The Spanish Public Treasury wants to raise between 1,000 and 2,000 million euros in the last auction of the year held tomorrow and in which it will offer investors three and nine-month bills, and this, when it has already managed to capture all of its financing needs in the medium and long term.
The bid scheduled for December 16, which was to be the last of the year, has not been called, after the Executive announced a reduction of 5,000 million euros in the issuance of net debt in 2021, a volume that will be joins the 20,000 million euros agreed in July.
Thus, this year’s net debt issuance will be 75,000 million, 25% less than expected in January.
Gross issuance also drops, to 264,174 million.
The bulk of the gross financing for 2021 has been executed through the issuance of medium and long-term instruments (bonds and obligations), and to a lesser extent, through bills.
The last time the Treasury placed 3- and 9-month bills was on November 16, and on that occasion, the marginal interest applied was even more negative and close to historical lows. The three-month bills came out at -0.757%, and those of nine, at -0.623%.
This type of debt reached its historical lows in December 2020, -0.821% in the case of three-month bills, and -0.653% for nine-month bills.
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