Lithuania Sells 400 Million Euros of Bonds as Yield Tumbles

Lithuania raised 400 million euros ($538 million) in its first sale of euro-denominated bonds since April as improved economic growth and steps to cut the budget deficit spurred a plunge in borrowing costs.

The 2018 euro bond tap was priced to yield 2.631 percent, the Finance Ministry in Vilnius, the capital, said in an e-mailed statement. That was in line with guidance of 140 basis points above the benchmark swap rate. A 400 million-euro tap of the same issue last April was priced to yield 4.216 percent.