The Spanish Treasury returns to the market and will hold next Thursday, the 1st, the first auction of December, when it has already captured more than 96% of the medium and long-term financing planned for all of 2022.
Specifically, next Thursday, the Treasury will offer investors fifteen-year bonds; other obligations with a residual life of four years and eleven months; and others that expire in 2031 (residual life of eight years and five months).
In addition, on December 7, Spain will hold a new auction, of six- and twelve-month bills, and on the 13th, of three- and nine-month bills.
The last auction that was scheduled for the month of December, on the 15th, will not be called.
In a statement sent this week, the Treasury announced that it will reduce by 5,000 million euros the volume of net financing planned for 2022, so that the net issuance of public debt will be 70,000 million and the gross issuance will fall to 232,507 million euros.
The Treasury stressed that despite the rapid increase in interest rates in 2022, financing costs remain at historically contained levels.
Thus, the cost of the total debt as a whole remains at levels similar to last year, 1.68%, while the average cost of debt issued this year is, in the absence of the December auctions, at 1.19%.
For 2023, Spain has raised net financing needs of 70,000 million euros.