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Italy raises 10 bn euros with rate at historic low

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(Globalpost/GlobalPost)

Italy on Friday raised 10 billion euros ($13 billion) euros in short-term paper with rates on 12-month bills at the lowest level since the introduction of the euro, the Bank of Italy said.

The Treasury raised 7.0 billion euros with 12-month bills at a rate of 0.703 percent compared to 0.922 percent in the last similar auction in April.

It also raised 3.0 billion euros with "flexible" Treasury bills which have 219 days left until maturity at a rate of 0.393 percent.

Demand was relatively weak at 1.16 times above the offer, compared to a ratio of 1.64 in April.

For the flexible bills, demand was 2.09 times higher.

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-- Dow Jones Newswires contributed to this report --

http://www.globalpost.com/dispatch/news/afp/130511/italy-raises-10-bn-euros-rate-at-historic-low