The Treasury expects to place up to 11,250 million next week with the first auctions in May


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The Public Treasury, a body dependent on the Ministry of Economic Affairs and Digital Transformation, expects to place next week between 8,750 million euros and 11,250 million in two auctions of 6 and 12-month bills and bonds and obligations of the State, thus beginning the emissions corresponding to the month of May.

Specifically, the Treasury expects to place between 4,500 million and 5,500 million euros in 6- and 12-month bills on Tuesday, May 3. In the last issue of these references, the Public Treasury raised 5,100 million, with a marginal interest of -0.542% for 6-month bills and -0.277% for 12-month bills.

For its part, on Thursday, May 5, it expects to raise between 4,250 million euros and 5,750 million with the auction of four references of State bonds and obligations, including one indexed to inflation.

Specifically, the public body will auction 5-year government bonds, with a 0% coupon and maturity on January 31, 2027; State bonds for 7 years, with a coupon of 0.80% and maturity on July 30, 2029; 50-year State bonds, with a 1.45% coupon and maturity on October 31, 2071; and 15-year inflation-indexed government bonds with a 0.7% coupon and maturity on November 30, 2033.

In the latest issues of these references, the marginal interest stood at 0.597% for 5-year government bonds; at 0.681% for 7-year State bonds; and -1,020% in the State obligations indexed to inflation at 15 years.

After these issues, the body dependent on the Ministry of Economic Affairs and Digital Transformation will return to the markets on May 10 with an auction of bills at three and nine months, which will be followed by an issue, on May 19, of debt to long term.


In accordance with the 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 forecasts that gross issuance will be reduced by 10% compared to the year past, up to 237,498 million euros.

For its part, a gross issue by the Public Treasury of 237,500 million euros is expected, which represents a decrease of 10% compared to what is estimated for this year. As in recent years, the bulk of the expected gross issuance will be concentrated in Treasury bills and in government bonds and obligations.

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