Portugal Sells Maximum Amount of Treasury Bills at Auction

Portugal sold the maximum target of 2.5 billion euros ($3.2 billion) of securities at a sale of three-, six- and 11-month treasury bills.

The nation issued 1.25 billion euros of 11-month bills, the longest maturity it has auctioned since the nation sought a rescue last year. The securities due in December 2012 were issued at an average yield of 4.986 percent and investors bid for 2.1 times the amount issued, the debt management agency said.