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Portugal places 1 bln euros in five and 14 year bonds

Xinhua, March 24, 2016 Adjust font size:

Portugal placed 1.007 billion euros (1.13 U.S. dollar) in five and 14 year treasury bonds on Wednesday, according to Portuguese Treasury and Debt Management Agency (IGCP).

The debt-laden country placed 504 million euros in five-year treasury bonds at an average yield of 1.84 percent, lower than the 2.03 percent rate in the previous auction held on March 9.

Demand for five-year treasury bonds was 889 million euros, 1.76 times higher than the amount placed.

During the last comparable auction for five-year bonds, on March 9, the country had placed 594 million euros at a rate of 2.03 percent.

On Wednesday the country also placed 503 million euros in 14-year treasury bonds at an average yield of 3.362 percent, higher than the 3.13 percent rate verified in the previous 10-year auction held on March 9, but lower than the 5.377 percent rate in a 13-year bond sale held on July 28, 2010.

The total demand for 14-year bonds was 810 million euros, 1.61 times higher than the amount issued.

The IGCP has said it aims to issue a gross 18 billion to 20 billion euros in medium- and long-term bonds this year, at least one bond auction per quarter. Enditem