It has already issued 57,462 million euros, covering 25% of its medium and long-term financing program for 2023

MADRID, 2 Mar. (EUROPA PRESS) -

The Public Treasury expects to place this Thursday between 5,250 million and 6,750 million euros in an auction of State bonds and obligations with which it will begin the issuances of the month of March, according to the objectives announced by the agency dependent on the Ministry of Economic Affairs and Digital Transformation.

Up to now, the Treasury has already issued 57,462 million euros, covering 25% of its medium and long-term financing program for 2023. The average life of the outstanding State debt reaches 7.93 years and the average cost of the Treasury securities portfolio stands at 1.77%.

The public body plans to auction today 3-year government bonds, with a 2.80% coupon; 7-year State bonds, with a 0.80% coupon; 10-year government bonds, with a 3.15% coupon, and 15-year inflation-indexed government bonds, with a 0.70% coupon.

The references in this operation are the marginal interest rates of 2.928% for 3-year government bonds; 1.032% for 15-year inflation-indexed State obligations; 3.212% for 7-year State obligations and 3.17% for 10-year State obligations.

This new Treasury issue occurs at a time when individual investors are showing great interest in buying debt, mainly in the short term, given its high profitability, which has been growing since the beginning of 2022, especially in the case of shorter-term bills.

So far this year, the Treasury has launched two syndicated issues. In the first, --a 10-year bond maturing in April 2033--, the public body issued an amount of 13,000 million euros, with a demand of 86,133 million euros, the second largest in the institution's history , thus obtaining an oversubscription of 6.6 times what was issued.

In the second, the Public Treasury issued 5,000 million euros in a new 15-year syndicated bond maturing on July 30, 2039, for which it has received a demand of more than 30,585 million euros, which reflects "the confidence of investors" in the Spanish economy, according to the Ministry of Economic Affairs and Digital Transformation.

In the presentation this month of the Treasury Financing Strategy for 2023, the Secretary General of the Treasury, Carlos Cuerpo, has already advanced that the body will again resort to bank syndications for the issuance of certain references of State Obligations.

With regard to regular issues of Treasury securities, 48 ​​ordinary auctions of Bills and Bonds and State Obligations are planned.

The public body also expects to place around 3,000 million euros in 'green' bonds in 2023 through three issues, in line with the amount of operations carried out in 2022. To date, Spain has placed 8,200 million on the market euros in 'green' bonds and is expected to put around 20,000 million into circulation.

Gross issuance by the Public Treasury this year will be 256,930 million euros, which represents an increase of 8.2% compared to the estimate for this year, due to the rise in interest rates.

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