The Kingdom of Spain plans to tap its 5.85% bond, maturing in January 2022.

Banks mandated to arrange the sale are Barclays, Deutsche Bank, Goldman Sachs, Banco Santander, Societe Generale and Banco Bilbao Vizcaya Argentaria.

Spain first auctioned this bond Jan. 19 this year, selling EUR3 billion of the debt at a yield of 5.403%, sharply lower than the 6.975% it obtained at a similar auction in November 2011.

With EUR21.1 billion of bonds already issued this year, Spain has completed almost a quarter of its gross bond issuance plan this year, which totals EUR86 billion.

The tap will be completed Wednesday, one of the banks said.

Spain is rated A1 by Moody's Investors Services Inc. A by Standard & Poor's Corp and Fitch Ratings

-By Serena Ruffoni, Dow Jones Newswires; +44 (0) 207 842 9349; serena.ruffoni@dowjones.com (Emese Bartha in Frankfurt contributed to this report)