Italy, Spain Offer 17 Billion Euros Debt in First 2012 Sales
This article is for subscribers only.
Italy and Spain will seek to sell as much as 17 billion euros ($21.5 billion) in debt as Premier Mario Monti seeks recognition for austerity efforts and Prime Minister Mariano Rajoy vows to meet his budget-deficit goal.
In their first auctions of 2012, Spain will sell as much as 5 billion euros of bonds, including a new three-year benchmark security. Italy, which needs to repay more than 50 billion euros in bonds in the first quarter, will sell as much as 12 billion euros of bills today and 4.75 billion euros of bonds tomorrow.