Portugal raises €1.5 billion in Treasury bills
The country's first Treasury bill auction of the year resulted in €1.5 billion in funding.
Portugal auctioned €1.5 billion in Treasury Bills on Wednesday, the maximum indicative amount, at six and 12 months, with interest rates falling in the shorter term and rising in the longer, it announced.
According to the Treasury and Public Debt Management Agency (IGCP) page on the Bloomberg agency, €1.005 billion were auctioned in T-bills maturing on January 20 2023 (12 months) at an average yield of -0.574%, higher than the -0.594% and all-time low recorded on July 21, when €1 billion were auctioned.
Demand reached €1.675 billion, 1.67 times the amount placed.
In the shorter term, of six months, €495 million were auctioned today at an average yield of -0.596%, lower than the -0.571% verified on May 19 last year, when €750 million were placed with the same maturity.
Demand stood at €1.365 billion, 2.76 times the amount placed.
IGCP had announced that today it would hold auctions of Treasury Bills with maturities on 22 July 2022 (six months) and 20 January 2023 (12 months), with a global indicative amount of between €1.25 and €1.5 billion.
