Portugal raises €1.5bn in debt sale

Portugal raises €1.5bn in debt sale

PanARMENIAN.Net - Portugal has raised €1.5 billion ($2 billion) in a debt sale at sharply lower rates as the bailed-out country continues to benefit from improving market confidence, The Associated Press reports.

The government debt agency said it sold €1.155 billion in 12-month debt Wednesday, Feb 20, at a rate of 1.277 percent, down from 1.61 percent last month. It said there was market demand for more than double the amount offered.

It also collected €345 million from a 3-month T-bill sale, with the yield slightly up at 0.737 percent compared with 0.67 percent in January. Demand was almost four times higher than the amount available.

Portugal has cranked up its austerity measures this year to reduce the national debt, despite a steep recession.

 Top stories
Legendary U.S. investor Warren Buffett regained third place in the list with a net worth of $72.7bn, from Amancio Ortega.
“The European Union expects that this substantial assistance will lead to bold reforms over the next years,” Hristea said.
Over the 9 months of 2014, Ameribank's assets amounted to AMD 334 billion, taking it to the top of Armenia's banking system.
Sergo Karapetyan stated that exports of Armenian fruits (except fort apricots) and vegetables to Russia this year have doubled.
Partner news