Portugal's borrowing cost rise ahead of NTMA bill sale

Portugal’s borrowing costs increased at an auction of €750 million of 18-month bills.

18th September, 2013
Portugal, like Ireland, is attempting to dip its toe back into the markets following an EU/IMF bailout.

Portugal’s borrowing costs increased at an auction of €750 million of 18-month bills.

The securities due in March 2015 were issued at an average yield of 2.293 per cent, the country’s debt management agency said. That compares with an average yield of 1.603 per cent at a previous auction of 18-month bills on June 19 and is the highest since November last year, when Portugal sold 18-month bills at an average yield of 2.99 per cent.

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