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Portugal places 1.8 bln euros in short-term debt

Xinhua, January 20, 2016 Adjust font size:

Portugal sold 1.8 billion euros (about 1.96 billion U.S. dollars) in six and 12 months treasury bills on Wednesday, the country's debt agency IGCP said.

Portugal sold 550 million euros in six-month maturity debt, at an average yield of minus 0.013 percent, against minus 0.018 percent achieved in the last auction of the same kind, on Nov. 18 last year. The demand was 1.29 billion euros, 2.35 times the amount on offer.

The country also sold 1.25 billion euros in 12-month debt at an average yield of minus 0.001 percent against minus 0.006 percent at the last auction also on Nov. 18 last year. The demand was 2.043 billion euros, 1.63 times the amount on supply.

The IGCP plans to auction between 3 billion and 3.75 billion euros in six auctions of bills in the terms of six and 12 months in the the first quarter of this year.

Portugal is among southern European countries that have enjoyed record low yields in recent months, largely thanks to the bond-buying program of the European Central Bank, which aimed at supporting a faltering eurozone economy. (1 euro = 1.09 U.S. dollars) Endit