Friday, October 31, 2014   

Portugal lures investors for dollar-denominated bonds
(07-02 18:57)

Portugal said Wednesday it has launched its first sale of dollar-denominated bonds in four years as it gains market confidence after emerging from a 78-billion-euro international bailout.
"The order book is open,'' said an official at the Portuguese Treasury and Debt Management Agency, which this month expressed its interest in diversifying its sources of financing.
Investor demand for the bonds exceeded US$2 billion, and the yield, or annual return to investors, is likely to be about 5.2 percent, according to Dow Jones Newswires.
The bond sale, handled via a syndicate of banks made up of Barclays, Danske Bank, HSBC and Societe Generale, was to be completed during the day.
Portugal last placed dollar-dominated bonds in March 2010 when it raised US$1.25 billion in a sale of five-year debt.
Portugal emerged from a three-year bailout programme supervised by the European Union and International Monetary Fund on May 17.
The centre-right government aims to lower the annual public deficit to the equivalent of 4.0 percent of total economic output by the end of this year from 4.9 percent in 2013.   
Other Business breaking news:
Athens stock market down 3.6pc (10-30 18:36)
Toshiba half-year net profit surges (10-30 17:27)
German jobless total falls in October (10-30 17:23)
VW confirms full-year targets after 'robust' Q3 (10-30 16:58)
Spanish economy expands by 0.5% in Q3 (10-30 16:58)
European stocks advance at open (10-30 16:57)
Hang Seng finishes lower (10-30 16:35)
Lufthansa cuts 2015 forecast on global economic slowdown (10-30 16:05)
Bayer raises forecasts for 2014 after strong Q3 (10-30 16:04)
NEC rebounds from losses on smartphone exit (10-30 15:25)

More breaking news >>

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