Portugal’s Borrowing Costs Rise at 2 Billion-Euro Bill Sale
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Portugal’s borrowing costs rose as the government sold a combined 2 billion euros ($2.56 billion) of three-, six- and 18-month bills in its last debt auction for this year.
The nation sold 1.2 billion euros of securities due in May 2014 at an average yield of 2.99 percent, compared with 2.967 percent at a previous auction of 18-month bills on Sept. 19, the debt management agency said. Investors submitted bids for 1.9 times the amount allotted, down from 2.4 times in September.