Portugal raises 1.5 billion euros at negative rates
Portugal returned to the markets, this time with a double auction of short-term debt. It obtained the maximum amount sought, of 1.5 billion euros.
Portugal continues to finance itself with negative interest rates on short-term debt. In a double auction of six and 12-month debt, the Treasury and Public Debt Management Agency (IGCP) raised 1.5 billion euros, with a new negative record in securities with the longest maturity. The rate was -0.527%.
According to Reuters, the IGCP placed one billion in the 12-month maturity, getting another 500 million in the shorter maturity. In both cases, demand was higher than in previous auctions for the same maturities, which helped to keep rates at minimum levels.
In the 12-month maturity, the Portuguese agency achieved a new record. After having reached an interest rate of -0.522% in the last comparable operation, the rate has now fallen to -0.527%.
With the six-month debt, the interest was -0.552%, practically identical to the -0.554% registered in the last operation in which this maturity of Treasury bills was used.
