The Portuguese government successfully issued 1.25 billion euros (approximately 1.7 billion U.S. dollars) in short-term bonds on the 15th. The yields on these treasury bonds were lower compared to similar bonds issued by the country last November.
Portugal's public debt management agency announced that day that the government issued a total of 1.25 billion euros in three-month and one-year short-term bonds. The three-month bond issuance amounted to 240 million euros (approximately 330 million U.S. dollars) with an interest rate of 0.495%, while the one-year bond issuance amounted to 1.01 billion euros (approximately 1.37 billion U.S. dollars) with an interest rate of 0.869%.
The announcement noted that the Portuguese government plans to issue 11 billion to 13 billion euros (approximately 15 billion to 17.7 billion U.S. dollars) in medium- and long-term bonds this year to raise more funds through market financing and achieve economic recovery.
On the 9th of this month, the Portuguese government successfully issued 3.25 billion euros (approximately 4.42 billion U.S. dollars) in five-year bonds. Investors believe that the successful issuance of Portugal's five-year bonds is a positive start for the country's return to international markets.
Portugal is the third eurozone country to receive an international bailout, following Greece and Ireland. In May 2011, the Portuguese government reached a bailout agreement totaling 78 billion euros (approximately 106.2 billion U.S. dollars) with the "troika" consisting of the European Union, the International Monetary Fund, and the European Central Bank. In recent years, the Portuguese government has been actively taking various measures to reduce the fiscal deficit and promote economic growth, with the expectation of exiting international assistance on schedule this year.
