There's nothing wrong with Reuters' grammar (although the mixing of two concepts joined by the word for in the same sentence leaves a bit to be desired), but we can think of a number of less confusing ways to state that Spain had cancelled this Thursday's 5 billion euro 10- and 15-year auction and, instead, had syndicated the issue today. This would have saved us the pain of living through City AM's truly idiotic teaser, Spain cancels syndicated bond auction... this leading to a cut and paste of the same piece, without attribution and even changing the name of the writer.
The issue was oversubscribed by 12:5. The yield in line with current conditions.
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