Portugal was looking to issue €3bn of 10 year bonds. Interest is said to be high with almost €9bn being received in bids at around 5.6%
Mersch said the issue is a success claiming;
Strong measures back home resulted in the market rewarding it.
This will, in the end, benefit the Portuguese banking system.
This is the first 10 year bond sale in over two years and the country looks set to exit it’s bailout on time and qualify for an ECB debt support program.