Portugal's borrowing costs fall

Portugal sold €1.5 billion of 12-month bills, the longest maturity since it requested a bailout from the European Union and the International Monetary Fund in April last year.

15th February, 2012
Portugal's borrowing costs fall
Portugal had last auctioned 12-month debt on April 6th, 2011, the day it sought a bailout.

Portugal sold €1.5 billion of 12-month bills, the longest maturity since it requested a bailout from the European Union and the International Monetary Fund in April last year.

The securities due in February 2013 were issued at an average yield of 4.943 per cent and the auction attracted bids for 2 times the amount offered, the country’s debt management agency said.

Portugal had last auctioned 12-month debt on April 6th, 2011, when it sold €455 million...

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