Portugal sold all 1.25 billion euros on offer of 2027 and 2030 bonds in an auction on Wednesday with yields turning positive on the longer benchmark maturity.
State debt agency IGCP said the allotment yield on the October 2030 bond rose to 0.237% from -0.012% in the previous auction of the same maturity in January. Still, it was slightly below the secondary market level of around 0.27% .
The yield on the 2027 bond, however, slipped into negative territory, to -0.086% from 0.095% in the previous auction of the same maturity in August last year.
The IGCP sold 625 million euros of each maturity. Demand exceeded the amount placed by 2.57 times on the 2027 maturity and by 2.32 times on the longer one.
(Reporting by Joao Manuel Mauricio in Gdansk, editing by Andrei Khalip) ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))
