Portugal sells €1.65bn in bonds at higher yields

first_img Portugal’s borrowing costs have risen sharply but less than expected in a bond auction today and the hefty amount sold signals the country should be able to repay its maturing debt this month.Portuguese bond yields have spiked to euro lifetime highs this week, pushed by a government collapse that has led to downgrades by credit rating agencies and mounting pressure for the it to ask for an international bailout.The IGCP debt agency sold €1.645bn (£1.5bn) in June 2012 bonds, higher than the initially indicated offer of €1.5bn, with demand outstripping supply by 1.4 times.The average yield on the June 2012 bond rose to 5.793 per cent from 3.159 per cent in the sale in July. The same maturity yielded over seven per cent bid in the secondary market earlier today. Share Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ whatsapp whatsapp alison.lock Portugal sells €1.65bn in bonds at higher yields Friday 1 April 2011 7:24 am Tags: NULLlast_img