The Treasury closes the November issues next week with auctions of bills, bonds and debentures

MADRID, 13 Nov.

The Treasury closes the November issues next week with auctions of bills, bonds and debentures

MADRID, 13 Nov. (EUROPA PRESS) -

The Public Treasury will auction three- and nine-month bills next week, in addition to State bonds and obligations, thus ending the issues corresponding to the month of November, according to the calendar of the department under the Ministry of Economic Affairs and Digital Transformation.

Specifically, the Treasury will auction three- and nine-month bills on Tuesday, while on Thursday it will issue three-year government bonds; State bonds with a residual life of nine years and five months and State bonds with a residual life of 21 years and eleven months.

In the last issue of three- and nine-month bills on October 11, the Treasury placed 1,964.72 million euros, with a marginal interest of 0.880% on three-month bills and 2.014% on nine-month bills, reaching its highest levels since 2013.

In recent auctions, the Treasury has had to pay investors more for debt securities, coinciding with rate hikes by the Fed and increases in the price of money also by the ECB.

On his side, on Thursday he will auction 3-year government bonds, with a 0% coupon and maturity on May 31, 2025; State bonds with a residual life of nine years and five months, with a 0.7% coupon and maturity on April 30, 2032 and State bonds with a residual life of 21 years and eleven months, with a 5.15% coupon and maturity on October 31, 2044.

In accordance with the financing strategy, the Public Treasury maintains the net debt issuance forecast for 2022 at 75,000 million, practically similar to the figure for 2021 (75,138 million), while it estimates that the gross issuance will be reduced by 10% compared to last year, up to 237,498 million euros.

As in recent years, the bulk of the expected gross issuance will be concentrated in Treasury bills and in government bonds and obligations.

According to the 2023 draft General State Budget Law (PGE), the gross issuance by the Public Treasury next year will be 256,930 million euros, which represents an increase of 8.2% compared to what is estimated for this year, due to the rise in interest rates.

For its part, the net indebtedness of the Public Treasury in 2023 will be reduced by 5,000 million euros, to 70,000 million. Breaking down by type of instrument, the Treasury Bills are expected to provide negative net financing of 5,000 million, so that the State bonds and obligations, together with the rest of the debts in euros and in foreign currency, will contribute the remaining 75,000 million.

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