Spanish debt sale sees high demand, but cost rises

MADRID (AP) - Spain has raised nearly euro3.5 billion ($4.3 billion) in an oversubscribed auction of 10- and 30-year Treasury bonds, although at sharply higher interest rates.

The Treasury sold euro3 billion in 10-year bonds Thursday at an average interest rate 4.86 percent, up from 4.045 percent in the last auction in May.

It sold euro479 million in 30-year bonds at an average interest rate of 5.9 percent, up from 4.8 percent in March.

The Treasury had hoped to issue between euro2.5 billion and euro3.5 billion in long-term debt.

The auctions were oversubscribed 1.89 and 2.45 times, respectively.