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Italy pays more
Source: Agencies |
September 28, 2011, Wednesday
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Print Edition
Print Edition
ITALY yesterday raised 14.5 billion euros (US$19.6 billion) in short-term government debt but there were signs the country is finding it more expensive to raise the money it needs.
Italy, which has the second-highest debt as a percentage of national income in the eurozone after Greece, sold 8 billion euros of six-month bonds but paid a higher interest rate of 3.07 percent against 2.14 percent at the last equivalent auction.
It also sold 3.5 billion euros of zero-coupon bonds, due to mature in 2013, at a yield of 4.51 percent against 3.41 percent last time.
There was better news in the sale of three-month bonds. Italy raised 3 billion euros at a yield of 1.8 percent, 0.1 percentage point lower than last time.
Italy, which has the second-highest debt as a percentage of national income in the eurozone after Greece, sold 8 billion euros of six-month bonds but paid a higher interest rate of 3.07 percent against 2.14 percent at the last equivalent auction.
It also sold 3.5 billion euros of zero-coupon bonds, due to mature in 2013, at a yield of 4.51 percent against 3.41 percent last time.
There was better news in the sale of three-month bonds. Italy raised 3 billion euros at a yield of 1.8 percent, 0.1 percentage point lower than last time.
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