LISBON, Dec 15 (Reuters) - Portugal sold 500 million euros in three-month treasury bills in the last debt auction of the year on Wednesday, with the borrowing costs rising sharply from the previous sale, reflecting persistent investor concerns about the debt-ridden country.
The indicative offer was 500 million euros in t-bills.
Following are the details of the issue carried out by the Portuguese Institute for Public Credit Management (IGCP) compared to the previous auction of three-month T-bills:
Auction date: 15/12/10 03/11/10
Maturity 18/03/11 18/02/11
Settlement date: 17/12/10 05/11/10
Avg. yield (pct) 3.403 1.818
Avg. price (pct) 99.147 99.473
Highest yield (pct) 3.497 1.850
Lowest yield (pct) 3.200 1.750
Tail 0.094 0.032
Total bids 961 mln 1.110 bln
Allotment 500 mln 500 mln
Bid-to-cover ratio 1.9 2.2
Outstanding after auction 3.801 bln 3.522 bln
For more information about the auction please click on IGCP15