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The Spanish treasury launched a surprise issue of 10-year bonds on Wednesday, a banking source said, with the government reportedly hoping to raise between two and three billion euros.
The syndicated bond issue has received strong demand of over 4.5 billion euros ($6.0 billion), according to Spanish media reports.
The banks handling the bond sale are Barclays, BBVA, Deutsche Bank, Goldman Sachs, Santander and Societe Generale.
The surprise bond issue came on the heels of a rally in government bonds from highly indebted nations on the eurozone periphery.
Spain has already completed a quarter of its gross bond issue plan for this year, which totals 86 billion euros.
© 2012 AFP
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