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BOE-A-2026-3607 ·16 February 2026 ·Resolution Low impact
Administrative

Investors: Treasury Bond and Bill auction on 19 February 2026

The General Directorate of the Treasury and Financial Policy has announced a public debt auction for 19 February 2026, in accordance with the issuance calendar authorised by Order ECM/2/2026 (Art. 1). The auction includes ten-year Treasury Bonds maturing in 2036, five-year Treasury Bills maturing in 2031, and Treasury Bills maturing in 2029 (Art. 2). The issuance of five-year Bills will be conducted via the segregable Bills modality (Art. 2.1).

In 3 key points

  1. Debt auction scheduled for 19 February 2026 (Art. 1). (art. 1)
  2. 5-year Treasury Bills: 2.60% annual nominal interest rate and maturity on 31 May 2031 (Art. 2.1). (art. 2.1)
  3. 10-year Treasury Bonds: 3.30% annual nominal interest rate and maturity on 30 April 2036 (Art. 2.2). (art. 2.2)

How it affects those involved

For investors and financial institutions, the resolution defines the technical conditions and interest rates for the new debt issuances (Art. 2). Participants are provided with price-yield equivalence tables to assist in auction decision-making (Art. 2.1 and 2.2). The issuance of five-year Bills establishes a new market benchmark due to the volume of outstanding debt for that maturity (Art. 2).

Lifecycle

2026-02-16PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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