Portuguese yields fall after return to long-term debt market

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Portuguese yields fall after return to long-term debt market

24-01-2013 12:03

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Peripheral European sovereign yields are falling after Portugal issued five-year bonds for 2.5bn euros, its first long-dated bond issue since taking part in a bailout program in 2011.

The bond sale, placed by banks, called for a yield of 4.891% after generating bids worth a total of €12bn, according to Portuguese Treasury Secretary Maria Luis Albuquerque.

Abuquerque explained that 93% of the bonds were sold to foreign investors, and added that other bonds will be issued soon.

The Portuguese 10-year bond yield on the secondary market fell below 6% on Tuesday for the first time since 2010. Portugal now has a risk premium of 435 basis points over the German 10-year benchmark.

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