MADRID, 20 Oct. (EUROPA PRESS) -
The Public Treasury expects to place this Thursday between 4,500 million and 5,500 million euros in an auction of State bonds and obligations, with which it will close the issues for the month of October, as announced by the body dependent on the Ministry of Economic Affairs and Digital Transformation .
Specifically, it will auction 3-year government bonds, with a 0% coupon; State bonds with a residual life of 3 years and 6 months and a 1.95% coupon and 7-year State bonds with a 0.8% coupon.
In view of these references, the marginal interest was 1.817% on the last 3-year State bond issue, while for State bonds with a residual life of 3 years and 6 months, the marginal return was 2.697 % and for State obligations at 7 years, at 1,930%.
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.
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 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 the estimate for this year, due to the rise in interest rates.
As in recent years, the bulk of the expected gross issuance will be concentrated in Treasury bills and in government bonds and obligations.
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.
In 2022, the Treasury has reopened the green bond through the auction procedure, which was issued for the first time in September 2021 and has become a structural component of the Treasury's financing strategy.
For this reason, the Government indicates that new reopenings of the green bond can be expected in 2023 to contribute to the financing of Spain's commitments to the ecological transition.
