Italy Clinches 30-Year Bond Sale Ahead of Vote

Banca D'Italia
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Banca D'Italia

Italy successfully sold its first 30-year bond in nearly two years at an auction on Wednesday, shrugging off concerns about the outcome of a general election on Feb. 24-25.

Investors bought 888 million euros ($1.20 billion) of debt maturing September 2040 at a yield of 5.07 percent. Demand was 1.97 times the offer.

Buyers also took 3.449 billion euros of a three-year bond with a yield of 2.30 percent, up from 1.85 percent at a mid-January sale.

Italy also sold a 15-year bond and a five-year floating rate CCTeu certificate linked to the Euribor. The country is now on track to meet 18 percent of its 2013 estimated borrowing target this week.