The Spanish Public Treasury will launch the issues for the month of February with an auction of bonds and obligations in which it expects to place between 5,250 million and 6,750 million euros, according to the objectives announced by the body under the Ministry of Economic Affairs and Digital Transformation.
Specifically, the Treasury will auction this Thursday, February 2, 3-year government bonds, with a coupon of 2.80%; Government bonds with a residual life of 5 years 3 months and a coupon of 1.40%; Government bonds indexed to inflation and with a residual life of 7 years 10 months, with a 1% coupon; and 20-year State Obligations, with a 3.45% coupon.
The references in this operation are the interest rates of 2.816% for 3-year government bonds; 0.036% for State Obligations with a residual life of 5 years 3 months; of 0.601% for State Obligations indexed to inflation and with a residual life of 7 years 10 months
Until now, the Treasury has already issued 32,000 million euros in one month of the year, 14.1% of its medium- and long-term financing program for 2023. The average life of the outstanding State debt reaches 7, 95 years and the average cost of the Treasury securities portfolio stands at 1.728%.
According to the draft Law of General State Budgets (PGE) of 2023, 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. year due to rising 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.