Spain continues to benefit from increasing investor confidence that it will be able to handle its debt as the government sold €5.07 billion in short-term bills at low interest rates.
The Treasury said it sold €3.88 billion in 12-month bills at an average interest rate of 1.24%, compared with 1.36% in the last such auction March 12.
It also sold €1.19 billion in six-month bills at 0.53%, down from 0.79% last month.
Demand was more than double the amount offered.
Spain, although in recession and with a 26% unemployment rate, has seen its borrowing costs plunge in recent months.
This is due a combination of the offer of help from the European Central Bank and the government's deficit-reduction policies.