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Portugal bond auction raises 1.728 bln euros

Xinhua, March 17, 2016 Adjust font size:

Portugal placed 1.728 billion euros worth of six- and 12-month treasury bills in the market on Wednesday.

According to the country's debt agency IGCP, Portugal placed 1.285 billion euros of 12-month treasury bonds at a rate of 0.05 percent, higher than the 0.001 percent rate registered in January.

The country also placed 443 million euros of 6-month treasury bonds at an average rate of 0.009 percent, lower than the 0.13 percent in January.

In the first financing operation after the European Central Bank (ECB) announced it would launch new stimulus measures, the country placed more than it expected but no longer benefited from negative interest.

The debt auction this Wednesday took place on the same day Portugal's 2016 state draft budget was approved by parliament with support from left-wing parties of ruling Socialist Party, Left Bloc, Portuguese Communist Party and Green Party, while the centre-right opposition Social Democratic Party and rightist CDS-PP voted against. Endit