Italy Sells Zero 2014 Bonds at 4.037% Vs 3.355% on April

Italy sold 3.5 billion euros of zero- coupon 2014 bonds at an average yield of 4.037 percent, compared with 3.355 percent at the last sale of similiar securities on April 24, the Rome-based Bank of Italy said.

The amount sold matched the maximum target for the bond and the bid-to-cover ratio was 1.66 compared with 1.8 on April 24.

To contact the reporter on this story: Chiara Vasarri in Rome at cvasarri@bloomberg.net

To contact the editor responsible for this story: Jeffrey Donovan at jdonovan26@bloomberg.net

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