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Italy raises 6.3 bn euros in bond auction

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(Globalpost/GlobalPost)

Italy on Thursday raised a total of 6.3 billion euros ($8.2 billion) in a bond auction in which borrowing costs rose for medium and long-term bills amid new jitters over Italy on the financial markets.

Borrowing costs for shorter-term bonds, however, went lower.

The Italian Treasury said it had sold 1.461 billion euros in 30-year bonds at a rate demanded by investors of 5.19 percent -- 0.2 percentage points higher than in the last similar bond auction.

It also raised 1.5 billion euros in a sale of five-year bonds at 2.68 percent -- 0.07 points higher than before.

It sold 3.38 billion euros in three-year bonds at 2.33 percent, lower than the 2.38 percent paid before.

dt/ric

http://www.globalpost.com/dispatch/news/afp/130711/italy-raises-63-bn-euros-bond-auction