Italy Borrowing Costs Decline At Auction
September 25, 2012 RTTnews
Italy saw its two-year borrowing costs decline at an auction on Tuesday.
The Italian Treasury raised EUR 3.937 billion from the sale of its zero coupon bonds known as CTZ, which was close to the top target of EUR 4 billion set for the sale. The bond will mature in September 2014.
The yield on the zero-interest bearing security fell to 2.53 percent from 3.064 percent in the previous sale on August 28. The bid-to-cover ratio, which reflects investor demand, dropped to 1.65 from 1.95.
Company — Italy