At full speed, Treasury issues 8,775 euros per second

The Spanish Treasury started 2012 at full speed. It is breaking all previous records as the year gets underway. In the first six weeks of 2012, the Treasury raised 32.6 billion euros in near, intermediate and long-term debt. That is 8,775 shares per second, a historic rate that is 60.6% faster than what was seen during the same period in 2011.

Experts from Consulnor say that we are seeing "an accelerated process of debt sales" that suggests that the total volume of debt issued has covered 25% of what Spain needs to cover during the entire year.

At the same time, those 32.6 billion euros reach much bigger dimensions if we take into account that only 4 billion have come from syndicated deals. That is to say, a type of placement that a group carries out through banks and not directly with the Treasury.

On the contrary, by this time in 2009, the Treasury had issued 7 billion euros in debt through syndicated loans. Levels for 2010 and 2011 were 5 billion and 6 million euros, respectively. Comparing debt issues in the first six weeks of the year in both last year and this year reveals that Spain has raised double the amount that it did last year.