| Portugal pays less interest on debt as markets ignore lower rating |
| Last Updated(Beijing Time):2012-02-02 06:08 |
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On what was considered a test on the market after Standard & Poor's downgrade of the Portuguese rating on Jan. 21, Portugal on Wednesday succeeded to auction Treasury bills with a lower yield than the previous ones.
The Portuguese government issued Wednesday a 750-million-euro three-month Treasury bill issue at 4.068 percent, having a demand 2.6 times the offer.
The last issue of three-month bills was on Nov. 16, and Portugal had to pay 4.364 percent. At that emission, the demand was 2.8 times the offer.
Portugal also issued 750 millions in six-month Treasury bills paying less than in the previous emission. On Jan. 18, the 750-million issue had to pay 4.74 percent interest and Wednesday's 754-million emission had a 4.463 percent interest. |
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