Italy pays lower rates on 5-year bonds despite downgrades
Milan - AFP
Italy paid lower rates on five-year bonds in an auction that raised 6.185 billion euros ($8.48 billion) on Thursday despite recent downgrades of its sovereign debt by all three top ratings agencies. The rate on the 3.5 billion euros in five-year bonds fell to 5.32 percent from 5.60 percent in the last similar operation, the Bank of Italy said. The Treasury also auctioned 2.685 billion euros due in 2018, 2021 and 2025.
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