Spain Smoothes Debt ‘Profile’ With 15-Year Bonds: Euro Credit
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Spain, the country with the euro region’s highest unemployment, plans to sell 15-year debt this week, taking advantage of a rebound in the euro-region bond market to reduce pressure on its short-term borrowing needs.
The Iberian nation will auction bonds that mature in July 2025 for the fourth time this year, and also will sell securities on Oct. 21 that are due in July 2032. The extra yield that investors demand to hold 10-year Spanish debt rather than benchmark German bunds declined to 159 basis points as of 12:36 p.m. in London, the lowest in more than two months.