Ireland in successful 1.5-billion-euro bond sale

21st September 2010, Comments 0 comments

Ireland said Tuesday it raised 1.5 billion euros (1.96 billion dollars) as planned via an oversubscribed bond auction seen as a crucial test of investor confidence in the troubled nation's economy.

The government public debt agency said it placed bonds worth 500 million euros due in 2014, with demand 5.1 times greater than the amount offered.

The bonds carried a yield of 4.767 percent, up from 3.627 percent at a similar previous operation, the National Treasury Management Agency said.

The government also placed eight-year bonds worth 1.0 billion euros, 2.9 times over-subscribed, at a rate of 6.023 percent, which compared with 5.088 percent at a previous issue.

At the same time on Tuesday, Greece and Spain also announced a successful round of bond auctions but with rates higher too.

© 2010 AFP

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