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Portugal places 1.215 bln euros in 5, 10-year debt on auction

Xinhua, March 10, 2016 Adjust font size:

Portugal placed 1.215 billion euros (1.33 billion U.S. dollars) of five and 10-year debt on the market on Wednesday at higher interest rates than in previous issues.

The country placed 594 million euros in five-year debt at a rate of 2.03 percent, compared with a rate of 1.43 percent in a similar auction held in July 2015. Demand was 1.54 times supply.

Portugal also issued 621 million euros in 10-year debt at a rate of 3.14 percent, compared with a rate of 2.42 in a similar auction in November 2015, and demand was 1.6 times supply.

The auction took place on the eve of a key meeting in which the head of the European Central Bank Mario Draghi is expected to announce new monetary stimulus packages to propel euro zone economies. Endit