Oct. 5 (Bloomberg) -- Portugal’s borrowing costs increased at an auction of 722 million euros ($962 million) of three-month bills.
The securities due in January 2012 were issued at an average yield of 4.972 percent, the country’s debt management agency said. That compares with an average yield of 4.931 percent at a previous auction of three-month bills on Sept. 21. The auction attracted bids for 2.2 times the amount offered, compared with a bid-to-cover ratio of 1.7 in September.
The IGCP, as the debt agency is known, on Sept. 30 said the indicative amount for today’s auction was between 500 million euros and 750 million euros.
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