The Spanish treasury on Wednesday placed treasury bonds valued at 3.076 billion euros (4.174 billion U.S. dollars) on the market exceeding expectations and paying lower interest rates than in previous auctions.
The treasury exceeded expectations of selling between 2 and 3 billion euros, while the demand was slightly above the 6.7 billion euros.
A total of 1.525 billion euros worth of three-year treasury bonds carried an average interest rate of 0.876 percent, slightly below the 0.968 percent of the previous auction.
The remaining 1.550 billion euros (2.06 billion U.S. dollars) worth of five-year treasury bonds fetched an average interest rate of 1.402 percent.
The treasury will hold another auction on June 24 and so far has successfully placed 89.947 billion euros in medium and long term debt on the market, which represented 67.5 percent of Spain's financial needs for 2014. (1 euro = 1.36 U.S. dollars)