Bloomberg News

Belgian Borrowing Costs Drop to 18-Month Low in Bill Auctions

January 03, 2012

Jan. 3 (Bloomberg) -- Belgium sold almost 2.44 billion euros of three-month and six-month treasury bills, more than the 2.2 billion euros it had planned to raise, as borrowing costs fell to the lowest level in 18 months.

The debt agency in Brussels said it sold 1.28 billion euros of three-month securities at a weighted average yield of 0.264 percent, compared with 0.78 percent at the previous auction on Dec. 13. Demand for the three-month debt was 2.13 times the amount sold, down from 8.59 times three weeks ago.

Investors also bought 1.155 billion euros of six-month bills at an average yield of 0.364 percent, compared with 2.438 percent in the previous sale on Nov. 29. They sought 2.01 times the amount sold, down from 2.76 times in November.

To contact the editor responsible for this story: John Martens at jmartens1@bloomberg.net


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