Portugal’s Borrowing Costs Drop At 2 Billion-Euro Bill Sale
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- Created on Thursday, 19 July 2012 11:18
Portugal sold 1.25 billion euros ($1.5 billion) of 12-month bills as borrowing costs fell to the lowest since 2010 and below the rate paid by Spain yesterday.
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The securities due in July 2013 were issued at an average yield of 3.505 percent, the lowest since November 2010, the debt management agency said. That compares with an average yield of 3.834 percent at a previous auction of 12-month bills on June 6. The sale attracted bids for 2.4 times the amount offered, compared with a bid-to-cover ratio of 2.7 in June. (continue reading on original link)
Source: Bloomberg
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