Portugal sold 1 billion euros ($1.3 billion) of 10-year bonds, getting more demand than at previous auctions, as it benefited from the European Union’s unprecedented aid plan for the region’s most indebted countries.
The Lisbon-based Treasury issued the 4.8 percent bonds due 2020 to yield 4.52 percent, 181 basis points below the record reached last week at the height of the crisis, the nation’s debt agency said today. Investors bid for 1.8 times the amount on offer, up from 1.6 times at the previous two auctions. Portugal aimed to raise 300 million euros to 1 billion euros at the sale.
