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Portugal makes successful return to bond market


economy

Portugal makes successful return to bond market

Portugal has issued its first new government bonds since requesting an international bailout two years ago, offering 10-year debt in an issue expected to raise at least €3bn.

It is returning to the market earlier than expected, having initially intended to raise funds again in September. Portuguese officials say the country is fully-funded until the end of the year, and investor interest suggests a yield of around 5.6%. The country’s outstanding 10-year debt yield fell again today to just over 5.5%, its lowest since September 2010.

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