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Italy debt costs edge lower after S&P decision

MILAN, April 30 (Reuters) - Italy sold the top planned amount in bonds on Tuesday, paying the lowest 10-year yield in a year after S&P Global's decision to leave the country's sovereign credit rating unchanged.

The auction was also helped by large redemptions of maturing debt.

Italy raised a total of 6.5 billion euros ($7.3 billion)selling five-year and 10-year nominal bonds as well as a floating-rate certificate. Bids totalled 1.5 times the amount sold.

A 10-year bond due in August 2029 fetched a 2.59 percent yield, slightly below last month's 2.61 percent auction level and a new low since April 2018.

A five-year bond due in July 2024 was sold at a gross 1.72 percent yield compared with 1.71 percent at the previous auction at the end of March.

Italy also placed a floating rate bond at a gross 1.77 percent yield, compared with 1.83 percent a month ago. ($1 = 0.8961 euros) (Reporting by Alessia Pe, editing by Valentina Za)