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Portugal issues new short-term bonds

Xinhua, June 18, 2015 Adjust font size:

Portugal on Wednesday issued a total of 750 million euros (847.5 million U.S. dollars) short-term treasury bills at relatively higher yields.

Portugal's public debt agency IGCP managed to issue the new 3-month and 11-month bonds at the rates higher than those of the bonds issued on April 15.

The Portuguese treasury raised 200 million euros (226 million dollars) in 3-month debt on Wednesday, with a basic interest rate of 0.044 percent, higher than the 0.007 percent on April 15 when bonds worth of 300 million euros (339 million dollars) were issued.

Demand was 5.1 times the amount offered, while the last sale in April saw demand 4.62 times the amount offered.

On Wednesday the IGCP also placed 550 million euros (621.5 million dollars) in 11-month debt at a rate of 0.159 percent, higher than the 0.015 percent when 950 million euros (1.07 billion dollars) were placed on April 15. Demand exceeded supply by 3.13 times.

The bond sale came at a time when Greece's default has sparked turbulence in major markets. However, Portuguese Prime Minister Pedro Passos Coelho said on Wednesday that his country is able to face any volatility in external markets caused by Greece until the end of the year. Endi