MADRID, 7 Nov. (EUROPA PRESS) –
The Public Treasury expects to place this Tuesday between 4,000 million and 5,000 million euros in an auction of 6 and 12-month bills, according to the objectives announced by the body dependent on the Ministry of Economic Affairs and Digital Transformation.
In the last issuance of six- and twelve-month bills on October 4, the Treasury placed 4,280 million euros with a marginal interest of 1.559% on six-month bills and 1.980% on twelve-month bills, reaching its lowest levels raised since December 2012.
In recent auctions, the Treasury has had to pay investors more for debt securities, coinciding with the rate hikes by the Fed, which yesterday raised them by 75 basis points to place them in a target range of between 3, 75% and 4%, and the increases in the price of money also from the European Central Bank, which last week announced a new rise of another 75 basis points, up to 2%.
Last Thursday, the Treasury placed 4,207.62 million euros in an auction of bonds and obligations, offering higher rates, and awarded 823.2 million in the 20-year green bond that it launched for the first time last year.
With this auction, the Treasury completed its goal of issuing ‘green bonds’ for the year 2022, with the placement of a total of 3,059 million in the year, so the reference issued for the first time in 2021 with maturity in July 2042 reaches a volume in circulation of 8,059 million euros.
The Government indicates in the General State Budget project 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.
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.
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.
