Lisbon, Portugal - Portugal highlighted raised debt euro750 million ($1 billion) in a sale of bonds, on Wednesday, with a lower rate of interest and demand reflecting an easing of tension on the financial difficulties of the country.
Results boosted confidence in markets, although many analysts expect Portugal to finally get a rescue plan as the Greece and the Ireland, despite the insistence of the Government, that he did not need help.
Debt agency said that the yield on the invoices of 12 months is 4.03 percent, down sharply from 5.28% on the same bill last month. The application was three times the amount of the offer.
The country has experienced no difficulty in raising funds for the moment, despite the concern of its debt burden and lean growth. Portugal must raise euro20 billion financial markets this year.
The fall in the cost of the financing of the Portugal is another good news for the minority Government, which is scrambling to finance the country on an even keel in the middle of nervousness on the financial strength of the largest euro area.
Secretary of State for cash, Carlos Costa Pina, stated that the sale has shown that the Portugal efforts bear fruit.
"This is an encouraging signal for us because it reflects the efforts of the Government towards budgetary consolidation are recognized," he told journalists.
European leaders are willing to avoid contagion of the market, particularly in much larger of Spain, which would be much more expensive to save.
Nations euro 17 meeting in Brussels earlier this week, the Ministers discussed stimulate the size and region bailout Fund powers as block attempts to reach a solution more complete in the debt crisis. Final decisions are expected in the coming months.
Portugal last week raised euro1.25 billion in bonds maturing in 2014 to 2020. Performance of binding of 2020 a dove 6.716% 6.806% the last time that the Government has tapped investors in November, raising hopes, is to restore the confidence of investors with its program of austerity of pay cuts and tax hikes.
Yet, the result of the sale of bill on Wednesday highlighted how the financial difficulties of the Portugal expanded last year — 12 months ago, the rate of interest on its invoices of 12 months was 0.93%.
"This is no a source of great celebration, but the fact that the State has been able to place the amount he wanted and that it is still the market demand provides a space for breath before the next phase of crisis, Filipe Silva, a manager of Banco Carregosa, debt has.".
Moody's Investor Services has warned that it may cut its A1 rating on the Portugal, while ratings Services Standard & Poor is also considering a downgrade.
Investors are worried about prospects for growth, Portugal with most forecasts predict that the economy slide into a recession this year.
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