Bloomberg News

Portugal Sells 1.5 Billion Euros of Bills Due in January, April

October 19, 2011

Oct. 19 (Bloomberg) -- Portugal sold 1.5 billion euros ($2.1 billion) of six-month and three-month bills in auctions today, the government debt agency said.

The securities due in April 2012 were issued at an average yield of 5.25 percent, the country’s debt management agency said. That compares with an average yield of 5.249 percent at a previous auction of six-month bills on Sept. 21. The auction attracted bids for 3.7 times the amount offered, compared with a bid-to-cover ratio of 4.5 in September.

The debt agency also sold 1.071 billion euros of three- month bills due in January at an average yield of 4.972 percent, attracting bids for 2 times the amount offered. That compares with an average yield of 4.972 percent at a previous auction of three-month bills on Oct. 5, with a bid-to-cover ratio of 2.2.

The IGCP, as the debt agency is known, on Oct. 14 said the total indicative amount for today’s auctions was between 1 billion euros and 1.5 billion euros.

To contact the editor responsible for this story: Joao Lima at jlima1@bloomberg.net


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