Home | World | Portugal raises 1.5 bn euros at lower rates

Portugal raises 1.5 bn euros at lower rates

02/02/2012 09:53:00
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Bailed-out Portugal managed to raise 1.5 billion euros (USD 2.0 billion) at lower rates, despite recent increased funding pressures on the markets, the national debt agency said.
The agency said it sold 750 million euros in 3-month bills at 4.068 percent, down from the 4.346 percent paid at a January 18 sale, with another 750 million euros in 6-month bills going at 4.463 percent, down from 4.740 percent.
Bids fell, however, with offers for the 3-month bills 2.8 times the amount on offer and 2.6 times on the six-month bills, down from 4.1 times and 3.0 times on January 18.
The sale, aimed to raise 1.25-1.50 billion euros, comes as yields on its longer-term government debt have soared.

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