Italy pays higher borrowing rates in bond sale
Italian borrowing rates edge higher in 3.8 billion euro bond sale amid political uncertainty
MILAN (AP) -- Italy has paid slightly higher interest rates to raise 3.8 billion euros ($4.9 billion) in bond sales amid political uncertainty.
The treasury paid a rate of 1.75 percent in the sale Monday of 2.8 billion euros in 12-month bonds, up from 1.68 percent at the last such auction last month.
It raised another 990 million euros in the sale of 15-year and 5-year bonds. Though demand was strong — more than double the amount offered for the longer-term bonds — Italy did not raise as much as it could have because of higher interest rates.
Center-left leader Pier Luigi Bersani is holding consultations on forming a new government following elections last month that ended with no clear winner. He is expected to announce his results in coming days.
