Calendario de subastas
Letras del Tesoro auctions calendar for 2025
| Product | Auction date | Amortization date | Online requests application Deadline [1] | Banco de España requests application Deadline [2] | Non-MMPDP Payment Deadline [3] | Date of issue |
|---|---|---|---|---|---|---|
| JANUARY | ||||||
6-month Letras | 07.01.2025 | 04.07.2025 | 31.12.2024 | 03.01.2025 | 09.01.2025 | 10.01.2025 |
12-month Letras | 07.01.2025 | 16.01.2026 | 31.12.2024 | 03.01.2025 | 09.01.2025 | 10.01.2025 |
3-month Letras | 14.01.2025 | 11.04.2025 | 07.01.2025 | 13.01.2025 | 16.01.2025 | 17.01.2025 |
9-month Letras | 14.01.2025 | 10.10.2025 | 07.01.2025 | 13.01.2025 | 16.01.2025 | 17.01.2025 |
| FEBRUARY | ||||||
6-month Letras | 04.02.2025 | 08.08.2025 | 28.01.2025 | 31.01.2025 | 06.02.2025 | 07.02.2025 |
12-month Letras | 04.02.2025 | 06.02.2026 | 28.01.2025 | 31.01.2025 | 06.02.2025 | 07.02.2025 |
3-month Letras | 11.02.2025 | 09.05.2025 | 04.02.2025 | 07.02.2025 | 13.02.2025 | 14.02.2025 |
9-month Letras | 11.02.2025 | 07.11.2025 | 04.02.2025 | 07.02.2025 | 13.02.2025 | 14.02.2025 |
| MARCH | ||||||
6-month Letras | 04.03.2025 | 05.09.2025 | 25.02.2025 | 28.02.2025 | 06.03.2025 | 07.03.2025 |
12-month Letras | 04.03.2025 | 06.03.2026 | 25.02.2025 | 28.02.2025 | 06.03.2025 | 07.03.2025 |
3-month Letras | 11.03.2025 | 06.06.2025 | 04.03.2025 | 07.03.2025 | 13.03.2025 | 14.03.2025 |
9-month Letras | 11.03.2025 | 05.12.2025 | 04.03.2025 | 07.03.2025 | 13.03.2025 | 14.03.2025 |
| APRIL | ||||||
6-month Letras | 08.04.2025 | 10.10.2025 | 01.04.2025 | 04.04.2025 | 10.04.2025 | 11.04.2025 |
12-month Letras | 08.04.2025 | 10.04.2026 | 01.04.2025 | 04.04.2025 | 10.04.2025 | 11.04.2025 |
3-month Letras | 22.04.2025 | 04.07.2025 | 15.04.2025 | 16/04/2025(*) | 24.04.2025 | 25.04.2025 |
9-month Letras | 22.04.2025 | 16.01.2026 | 15.04.2025 | 16/04/2025(*) | 24.04.2025 | 25.04.2025 |
| MAY | ||||||
6-month Letras | 06.05.2025 | 07.11.2025 | 29.04.2025 | 02.05.2025 | 08.05.2025 | 09.05.2025 |
12-month Letras | 06.05.2025 | 08.05.2026 | 29.04.2025 | 02.05.2025 | 08.05.2025 | 09.05.2025 |
3-month Letras | 13.05.2025 | 08.08.2025 | 06.05.2025 | 09.05.2025 | 15.05.2025 | 16.05.2025 |
9-month Letras | 13.05.2025 | 06.02.2026 | 06.05.2025 | 09.05.2025 | 15.05.2025 | 16.05.2025 |
| JUNE | ||||||
6-month Letras | 03.06.2025 | 05.12.2025 | 27.05.2025 | 30.05.2025 | 05.06.2025 | 06.06.2025 |
12-month Letras | 03.06.2025 | 05.06.2026 | 27.05.2025 | 30.05.2025 | 05.06.2025 | 06.06.2025 |
3-month Letras | 10.06.2025 | 05.09.2025 | 03.06.2025 | 06.06.2025 | 12.06.2025 | 13.06.2025 |
9-month Letras | 10.06.2025 | 06.03.2026 | 03.06.2025 | 06.06.2025 | 12.06.2025 | 13.06.2025 |
| JULY | ||||||
6-month Letras | 01.07.2025 | 16.01.2026 | 24.06.2025 | 27.06.2025 | 03.07.2025 | 04.07.2025 |
12-month Letras | 01.07.2025 | 10.07.2026 | 24.06.2025 | 27.06.2025 | 03.07.2025 | 04.07.2025 |
3-month Letras | 08.07.2025 | 10.10.2025 | 01.07.2025 | 04.07.2025 | 10.07.2025 | 11.07.2025 |
9-month Letras | 08.07.2025 | 10.04.2026 | 01.07.2025 | 04.04.2025 | 10.07.2025 | 11.07.2025 |
| AUGUST | ||||||
6-month Letras | 05.08.2025 | 06.02.2026 | 29.07.2025 | 01.08.2025 | 07.08.2025 | 08.08.2025 |
12-month Letras | 05.08.2025 | 07.08.2026 | 29.07.2025 | 01.08.2025 | 07.08.2025 | 08.08.2025 |
3-month Letras | 12.08.2025 | 07.11.2025 | 05.08.2025 | 08.08.2025 | 14.08.2025 | 15.08.2025 |
9-month Letras | 12.08.2025 | 08.05.2026 | 05.08.2025 | 08.08.2025 | 14.08.2025 | 15.08.2025 |
| SEPTEMBER | ||||||
6-month Letras | 02.09.2025 | 06.03.2026 | 26.08.2025 | 29.08.2025 | 04.09.2025 | 05.09.2025 |
12-month Letras | 02.09.2025 | 04.09.2026 | 26.08.2025 | 29.08.2025 | 04.09.2025 | 05.09.2025 |
3-month Letras | 09.09.2025 | 05.12.2025 | 02.09.2025 | 05.09.2025 | 11.09.2025 | 12.09.2025 |
9-month Letras | 09.09.2025 | 05.06.2026 | 02.09.2025 | 05.09.2025 | 11.09.2025 | 12.09.2025 |
| OCTOBER | ||||||
6-month Letras | 07.10.2025 | 10.04.2026 | 30.09.2025 | 03.10.2025 | 09.10.2025 | 10.10.2025 |
12-month Letras | 07.10.2025 | 09.10.2026 | 30.09.2025 | 03.10.2025 | 09.10.2025 | 10.10.2025 |
3-month Letras | 14.10.2025 | 16.01.2026 | 07.10.2025 | 10.10.2025 | 16.10.2025 | 17.10.2025 |
9-month Letras | 14.10.2025 | 10.07.2026 | 07.10.2025 | 10.10.2025 | 16.10.2025 | 17.10.2025 |
| NOVEMBER | ||||||
6-month Letras | 04.11.2025 | 08.05.2026 | 28.10.2025 | 31.10.2025 | 06.11.2025 | 07.11.2025 |
12-month Letras | 04.11.2025 | 06.11.2026 | 28.10.2025 | 31.10.2025 | 06.11.2025 | 07.11.2025 |
3-month Letras | 11.11.2025 | 06.02.2026 | 04.11.2025 | 07.11.2025 | 13.11.2025 | 14.11.2025 |
9-month Letras | 11.11.2025 | 07.08.2026 | 04.11.2025 | 07.11.2025 | 13.11.2025 | 14.11.2025 |
| DECEMBER | ||||||
6-month Letras | 03.12.2025 | 05.06.2026 | 26.11.2025 | 28.11.2025 | 04.12.2025 | 05.12.2025 |
12-month Letras | 02.12.2025 | 04.12.2026 | 25.11.2025 | 28.11.2025 | 04.12.2025 | 05.12.2025 |
3-month Letras | 09.12.2025 | 06.03.2026 | 02.12.2025 | 04.12.2025 | 11.12.2025 | 12.12.2025 |
9-month Letras | 09.12.2025 | 04.09.2026 | 02.12.2025 | 04.12.2025 | 11.12.2025 | 12.12.2025 |
| JANUARY-2026 | ||||||
6-month Letras | 13.01.2026 | 10.07.2026 | 06.01.2026 | 09.01.2026 | 15.01.2026 | 16.01.2026 |
12-month Letras | 13.01.2026 | 15.01.2027 | 06.01.2026 | 09.01.2026 | 15.01.2026 | 16.01.2026 |
3-month Letras | 20.01.2026 | 10.04.2026 | 13.01.2026 | 16.01.2026 | 22.01.2026 | 23.01.2026 |
9-month Letras | 20.01.2026 | 09.10.2026 | 13.01.2026 | 16.01.2026 | 22.01.2026 | 23.01.2026 |
[1] Online requests application deadline through the Securities Purchase and Sale Service. You can check additional information about the deadlines in the frequently asked questions section.
[2]. On-site requests application deadline by individual investors holders of Direct Accounts in Banco de España until 2:00 p.m., 1:00 p.m. in the Canary Islands. This procedure will require a prior appointment with Banco de España. You can check additional information about the deadlines in the frequently asked questions section.
[3]. Payment deadline for investors who are not Members of the Public Debt Primary Market (MPDPM) registered at Banco de España; including retail investors. This additional payment will only be necessary for those investors who have opted for the minimum account deposit of 2% of the subscribed nominal amount.
Calendar for Bonos and Obligaciones del Estado 2025
| Auction date | Online application Deadline [1] | Banco de España application Deadline [2] | Non-MPDPM payment deadline [3] | Date of issue | |
|---|---|---|---|---|---|
| JANUARY | 09.01.2025 | 07.01.2025 | 08.01.2025 | 13.01.2025 | 14.01.2025 |
16.01.2025 | 14.01.2025 | 15.01.2025 | 20.01.2025 | 21.01.2025 | |
| FEBRUARY | 06.02.2025 | 04.02.2025 | 05.02.2025 | 10.02.2025 | 11.02.2025 |
20.02.2025 | 18.02.2025 | 19.02.2025 | 24.02.2025 | 25.02.2025 | |
| MARCH | 06.03.2025 | 04.03.2025 | 05.03.2025 | 10.03.2025 | 11.03.2025 |
20.03.2025 | 18.03.2025 | 19.03.2025 | 24.03.2025 | 25.03.2025 | |
| APRIL | 03.04.2025 | 01.04.2025 | 02.04.2025 | 07.04.2025 | 08.04.2025 |
10.04.2025 | 08.04.2025 | 09.04.2025 | 14.04.2025 | 15.04.2025 | |
| MAY | 08.05.2025 | 06.05.2025 | 07.05.2025 | 12.05.2025 | 13.05.2025 |
22.05.2025 | 20.05.2025 | 21.05.2025 | 26.05.2025 | 27.05.2025 | |
| JUNE | 05.06.2025 | 03.06.2025 | 04.06.2025 | 09.06.2025 | 10.06.2025 |
19.06.2025 | 17.06.2025 | 18.06.2025 | 23.06.2025 | 24.06.2025 | |
| JULY | 03.07.2025 | 01.07.2025 | 02.07.2025 | 07.07.2025 | 08.07.2025 |
17.07.2025 | 15.07.2025 | 16.07.2025 | 21.07.2025 | 22.07.2025 | |
| AUGUST | 07.08.2025 | 05.08.2025 | 06.08.2025 | 11.08.2025 | 12.08.2025 |
21.08.2025 | 19.08.2025 | 20.08.2025 | 25.08.2025 | 26.08.2025 | |
| SEPTEMBER | 04.09.2025 | 02.09.2025 | 03.09.2025 | 08.09.2025 | 09.09.2025 |
18.09.2025 | 16.09.2025 | 17.09.2025 | 22.09.2025 | 23.09.2025 | |
| OCTOBER | 02.10.2025 | 30.09.2025 | 01.10.2025 | 06.10.2025 | 07.10.2025 |
16.10.2025 | 14.10.2025 | 15.10.2025 | 20.10.2025 | 21.10.2025 | |
| NOVEMBER | 06.11.2025 | 04.11.2025 | 05.11.2025 | 10.11.2025 | 11.11.2025 |
20.11.2025 | 18.11.2025 | 19.11.2025 | 24.11.2025 | 25.11.2025 | |
| DECEMBER | 04.12.2025 | 02.12.2025 | 03.12.2025 | 05.12.2025 | 09.12.2025 |
11.12.2025 | 09.12.2025 | 10.12.2025 | 15.12.2025 | 16.12.2025 | |
| JANUARY 2025 | 08.01.2026 | 06.01.2026 | 07.01.2026 | 12.01.2026 | 13.01.2026 |
15.01.2026 | 13.01.2026 | 14.01.2026 | 19.01.2026 | 20.01.2026 |
[1]. Online requests application deadline through the Securities Purchase and Sale Service. You can check additional information about the deadlines in the frequently asked questions section.
[2]. On-site requests application deadline by individual investors holders of Direct Accounts in Banco de España until 2:00 p.m., 1:00 p.m. in the Canary Islands. This procedure will require a prior appointment with Banco de España. You can check additional information about the deadlines in the frequently asked questions section.
[3]. Payment deadline for investors who are not Members of the Public Debt Primary Market (MPDPM) registered at Banco de España; including retail investors. This additional payment will only be necessary for those investors who have opted for the minimum account deposit of 2% of the subscribed nominal amount.