Portugal sold €850 million (US$1.01 billion) worth of 10-year bonds yesterday, Bloomberg reports, quoting the government debt management agency, IGCP.

The news agency says the yield was 2.785 percent.

The report says IGCP received bids for nearly €1.75 billion worth of bonds, meaning the supply met less than half the demand.

The sale was the second of long-term debt in the third quarter of this year. In July IGCP raised €1 billion through the sale of 10-year and 28-year bonds, Bloomberg says.