Bloomberg News

Belgium Sells 2.58 Billion Euros of Bills; Borrowing Costs Rise

January 31, 2012

Jan. 31 (Bloomberg) -- Belgium sold 2.58 billion euros of treasury bills, less than the 3 billion euros it had planned to raise, as borrowing costs rose.

The treasury in Brussels said it sold 1.64 billion euros of three-month bills at a weighted average yield of 0.506 percent, compared with 0.429 percent in the most recent auction two weeks ago. Demand for the securities was 2.7 times the amount sold, up from 2.24 times on Jan. 17.

Investors also bought 940 million euros of six-month bills at an average yield of 0.71 percent, compared with 0.364 percent in the latest sale of similar-maturity debt on Jan. 3. They sought 4.02 times the amount sold, up from 2.01 times four weeks ago.

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


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