The 10-year bonds were sold at a yield of 5.743%, up from 5.403% when the bonds were last sold in February. But the rate for two-year bonds dropped to 3.463% from 3.495% in October.
Spain sold all the 2.54bn euros ($3.33bn; £2.08bn) of bonds it was offering, with demand higher than at the previous sale.
The demand for the 10-year bonds was almost twice the amount sold.
"Overall, then, a reasonable set of results which will go some way to allaying fears the domestic bid [demand] for Spanish bonds has dried up," said Richard McGuire, rate strategist at Rabobank.
But he added that: "This support does come at a price".
There had been worries about this week's bond auctions after the interest rates on existing 10-year bonds rose above 6% on Monday.
Borrowing costs above 6% are considered by many analysts to be unaffordable in the long run.
Spain held a short-term bond auction on Tuesday at which the rate for 12-month bonds rose to 2.6% from 1.4% at the last auction in March, while 18-month bonds were up from 1.7% to 3.1%.
Analysts said that Spain had passed the hurdle of this auction, but that the challenges for the economy remain.
"Until we see signs that the government is implementing the medium-term fiscal consolidation programme and signs of life in the Spanish economy, investors are going to worry about the trajectory of the debt-to-GDP ratio in the medium-term," said Nick Stamenkovic, bond strategist at RIA Capital Markets.
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