Arab Today, arab today italy issues close to 65 bn euros in bonds
Last Updated : GMT 21:53:08
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Italy issues close to 6.5 bn euros in bonds

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Arab Today, arab today Italy issues close to 6.5 bn euros in bonds

Milan - AFP

Italy placed bonds worth close to 6.5 billion euros (8.8 billion dollars) on Tuesday but the yield it had to offer reached a new high level, the Bank of Italy said, revealing a marked lack of investor confidence. Shortly before the placement, the Italian finance ministry announced that Finance Minister Giulio Tremonti had met delegates from China\'s biggest sovereign wealth fund CIC, as the government fights acute market pressure over its public finances. The Treasury issued five-year bonds to raise 3.865 billion euros at a yield or fixed rate of 5.60 percent, a record high level since the creation of the eurozone for this type of issue, up from 4.93 percent at the last similar operation. It also issued seven-year bonds to raise 688 million euros at a yield of 5.59 percent compared to 4.95 percent as well as 740 million euros in bonds due to mature in February 2020 at a rate of 5.49 percent compared to 3.58 percent. Also, bonds worth 1.192 billion euros, maturing in September 2020, were placed at a rate of 5.47 percent compared to 3.92 percent. The treasury had been aiming to raise 5.0-7.0 billion euros. Italy placed three-month and 12-month bonds worth 11.5 billion euros ($15.5 billion) on Monday, but at sharply increased yields.

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