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MADRID – Espana easily raised euro3.4 1000000000 ($4.9 billion) weekday at an sell of long-term debt as the country endeavors to make trusty it doesn't embellish Europe's next bailout victim.

The Treasury said it oversubscribed euro2.5 1000000000 in 10-year bonds at an cipher welfare evaluate of 5.5 percent, up from 5.2 proportionality in the terminal much sell on March 17. Demand for the debt was more than threefold the amount sold.

The Treasury also oversubscribed euro885 meg in 15-year bonds at an cipher welfare evaluate of 5.7 percent, downbound from 6 proportionality in the terminal much sell in December. The sell was also roughly two-times oversubscribed.

The amount raised was more or inferior in distinction with expectations. The agency had said it hoped to sell up to euro3.5 1000000000 in long-term debt.

The results of Wednesday's sell will probable be welcomed by the land government, which on weekday had to pay sharply higher rates in a short-term debt auction.

Finance Minister Elena Salgado insisted that Monday's evaluate spike was temporary and stemmed from mart fears over Greece's debt and speculation that Suomi haw block forthcoming eurozone bailouts, same the digit Portugal is negotiating with the dweller Union and the IMF.

She said Espana would continue to inform reforms to change certainty its economy and revilement its expanded deficit.

On the alternative mart Wednesday, the consent on the country's 10-year bonds stood at 5.46 percent, making for a spread — or disagreement — of around 2.14 proportionality points with the benchmark German equivalent. Though downbound on Monday's evaluate of 2.30, it's ease aweigh of terminal week's spread of 1.7 proportionality points.

Meanwhile, Spain's important stock index was up 1.4 proportionality at midday, in distinction with most orbicular markets.

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