MADRID, March 7 (Reuters) - Spain sold 5 billion euros ($6.5 billion) in three bonds at auction on Thursday, at the top end of its targeted amount and with lower borrowing costs despite political uncertainty in Italy.
The Treasury had aimed to sell between 4 billion and 5 billion euros of bonds due Oct. 31, 2015, Jan. 31, 2018 and Jan. 31, 2023.
The 2015 bond sold 569 million euros at an average yield of 2.632 percent compared to 2.713 percent when it last sold at auction Jan. 17. The bid-to-cover ratio was 4.9 up from 2.0 in January.
The 2018 bond sold 2.0 billion euros at a yield of 3.572 percent, down 55 basis points from when it last auctioned Feb. 7 and was 2.3 times subscribed compared to 2.2 times last month.
The benchmark 10-year bond sold 2.4 billion euros at an average yield of 4.917 percent compared to 5.202 percent when it last sold Feb. 21. Demand for the bond was higher than at the previous auction, with bid-to-cover at 2.3 versus 1.6 in February.