Spain mostly pays lower rates in auction of $5.15 billion in bonds amid bailout speculation
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Spain's Treasury has sold €3.99 billion ($5.15 billion) in medium term debt at mostly lower interest rates as investors wait for the government to decide whether it will seek a financial bailout.
The Treasury auctioned off €710 million in five-year bonds Thursday on an average interest rate of 4.76 percent, down from 6.45 percent in the last such auction July 19.
It sold €1.99 billion in bonds maturing in 2015 at a 3.95 percent yield, compared with 3.85 percent. It placed €1.28 billion in 2014 bonds at 3.28 percent, down from 5.02 percent.
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Prime Minister Mariano Rajoy will hold talks Friday in Malta on the sovereign debt crisis with his French and Italian counterparts, Francois Hollande and Mario Monti, while they attend a Mediterranean nation meeting.