China buys 1 bn euros of Portuguese debt: report
(LISBON) - China bought one billion euros' ($1.3 billion) worth of Portuguese debt in a private placement last week at above the market rate of interest, newspaper Jornal de Negocios reported on Thursday.
"The Portuguese state is going to pay a rate of 4.74 percent on an 18-month issue of 1 billion euros, which is above the market rate," the newspaper said.
The rate of Portuguese two-year debt rose to 3.970 percent at the close of trading on Wednesday.
Portugal raised 1.25 billion euros in its first long-term issue of the year, with suspected large-scale debt preparfatory purchasing on the secondary market by the European Central Bank and expressions of support for eurozone debt from China and Japan helping to calm markets.
Text and Picture Copyright 2011 AFP. All other Copyright 2011 EUbusiness Ltd. All rights reserved. This material is intended solely for personal use. Any other reproduction, publication or redistribution of this material without the written agreement of the copyright owner is strictly forbidden and any breach of copyright will be considered actionable.
