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Bond auction beats target for Spain

Spain's treasury has sold 3.9 billion euros of medium and long-term debt, seen as the country's first step in building funds for a predicted difficult 2013.The country has to meet a strict deficit target. The longest-dated bond due at the end of April 2021 sold 1.5 billion euros and was 1.8 times subscribed compared to 2.2 times when it was last sold in December a year ago.

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