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Italy pays higher borrowing rates in bond sale
Monday - 3/25/2013, 11:38am EDT
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.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)