Investors flocked to a new 10-year Spanish government bond Wednesday, continuing a trend of strong demand for bonds issued by the euro area's former trouble spots.

Shortly after the opening of order books for Spain's long-awaited new 10-year bond, the issue had drawn €22 billion ($29.83 billion) in demand, according to one of the banks arranging the sale, in line with the orders seen at the previous launch of Spanish 10-year bonds in January and May 2013. The final book closed with almost €40 billion in demand