Spain has managed to raise €4 billion at an affordable cost in another sign that investors are more confident about the government's handling of its finances.
The Treasury said it sold 3.1 billion in new nine-month bills today at a yield of 1.14%.
It also sold €886m in three-month bills at an average rate of 0.42%, compared with 0.44% in the last such auction January 22.
Spain's borrowing costs have fallen in recent months as fears the country might need a bailout have receded.
Demand was five times the amount offered for the three-month bills and 2.3 times for the new bills.
The country is in the throes of its second recession in three years with unemployment at 26%.