The Spanish Treasury on Tuesday was able to place 1.933 billion euros of bonds with a lifespan of three and six months onto the market.

However, the treasury was unable to place the full quota of 2 billion worth of bonds on the market and has been forced to pay a higher rate of interest.

About 725 million euros of the issue was in bonds with a three month lifespan and the Treasury was forced to offer an interest rate of 0.72 percent, as opposed to the 0.42 percent offered in the previous bond emission, which was celebrated in March.

The demand for the three month bonds was high for this offer, outstripping the supply by 7.6 times.

There was less success with the 1.208 billion euros of six month bonds, with the Treasury forced to offer interest of 1.628 percent, twice that of the previous offer with demand 3.3 times greater than supply.

Tuesday's offer was lower than recent bond issues, given the recent market pressure on Spain's sovereign debt and on other EU countries. It took place following another day of sharp declines on the Spanish stock market which left the country's risk premium at over 400 points.

The offer ends the Treasury's bond issues for April, a month in which it has placed bonds to a total value of 21.497 billion euros onto the market.