Portugal sold all 1.25 billion euros ($1.52 billion) on offer of 2030 and 2035 bonds in an auction on Wednesday with yields dipping into negative territory on the benchmark bond maturing earlier.

State debt agency IGCP said the allotment yield on the 2030 bond fell to -0.012% from 0.329% in the previous auction of the same maturity in September. It was also below the secondary market level of around 0.02%.

The yield on the 2035 maturity stood at 0.319%.

The IGCP sold 500 million euros of 2030 bonds and 750 million euros of the 2035 maturity. Demand exceeded the amount placed by 3.02 times on the 2030 maturity and by 2.55 times on the longer one.