Portugal sells 1 bln euros in 2020 bonds

LISBON: Portugal sold 1 billion euros of bonds due 2020 on Wednesday at the lowest yield ever of that maturity, the IGCP debt agency said. The amount issued was at the top of the IGCP's indicative amount of 750 million euros to 1 billion euros.

The IGCP placed the bond at an average yield of 1.8171 percent. Portugal hasn't issued a similar dated maturity recently but its five-year bonds currently trade around 1.7 percent.

The bid-to-cover ratio was 1.80.