Spain has raised €4 billion in short-term debt at a lower cost, in a further reflection of growing investor confidence in the government's handling of the economy.
The Treasury said it sold €2.26 billion in nine-month bills at a rate of 1.01%, down from 1.14% in the last such auction on February 19.
It also sold €1.73 billion in three-month bills at a yield of 0.29%, compared with 0.42% last month.
The amount sold met the Treasury's target while demand was more than double the total offered.
Spain's borrowing costs have dropped in recent months with investors less wary since European authorities announced the country would be helped, if needed, to handle its debt.
The economy is stuck in recession, however, with an unemployment of 26%.