REGIONAL DEBT

Valencia pays more than Greece for six-month debt

Region of Valencia sells 500 million euros of short-term bonds on Thursday

Yields reach seven percent, which is higher than Greece, Portugal and Ireland

The highly indebted region of Valencia sold 500 million euros of six-month bonds on Thursday, but had to pay yields of seven percent. That's higher than the cost of debt for the three euro-zone countries that have come to symbolize the financial crisis: Greece, which pays 4.947 percent; Portugal, 2.226 percent; and Ireland, 0.988 percent.

Valencia carried out the operation to refinance a debt that was due to be repaid today, and will be followed by another two repayments: 500 million euros on May 9, and 473 million on May 27. In total, the region will have to renew five billion euros of public debt over 2012.

Given that its rating has been lowered to junk-bond status, the region has repeatedly warned that it will need help from the central government to cope with its finances.

Regional government sources on Thursday only went so far as to say that the high yields were the conditions being demanded by the market, and that given the situation, it would have been more serious if the region had been unable to refinance.

Para poder comentar debes estar registrado en Eskup y haber iniciado sesión

Darse de alta ¿Por qué darse de alta?

Otras noticias

LATIN AMERICA

Venezuelan students will not abandon demonstrations

EFE / Alfredo Meza Caracas

Protest leaders issue demands for talks

Deadline approaches for vigilantes to disband

Luis Pablo Beauregard Mexico City

Mexican Forces will have to register weapons with authorities on May 10

Mujica to ask Obama for help in anti-smoking dispute

Magdalena Martínez Montevideo

Phillip Morris claims Uruguay is violating bilateral treaty

Accords reached in Venezuelan peace talks

Alfredo Meza Caracas

Opposition agrees to take part in a truth commission

Calm returns to Nicaragua after quake panic

Carlos Salinas Managua

Experts want to determine what sparked the tremors

Venezuelan TV reporter released unharmed

Nairobi Pinto was found unharmed on Monday

Cocaine shipments through Caribbean on the rise

Maye Primera Miami

Smugglers being forced to use alternative routes following crackdowns in Mexico

Lo más visto en...

» Top 50

Webs de PRISA

cerrar ventana