Spain's Treasury on Thursday sold 4.5 billion euros ($6.2 billion) of government bonds, with borrowing costs rising amid increasing turmoil surrounding Greece and the euro-zone debt crisis. Spain sold 1.56 billion euros of bonds due to mature in 2014 at an average yield of 4.27%, with bids exceeding supply 1.7 times.
The Treasury said Thursday's auction results weren't strictly comparable with the last sale of the issue which took place in June 2009.
The Treasury sold 2.92 billion euros of a bond due to mature in 2016, producing an average yield of 4.85% and a bid-to-cover ratio of 1.62.
A previous sale in September saw an average yield of 4.49% and a bid-to-cover ratio of 1.76.
In the secondary market, Spanish 10-year yields rose 18 basis points to 5.59%, according to FactSet Research data
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