Italy has raised €11.5 billion through a sale of 12-month and three-month treasury bills, The Wall Street Journal reports. The first tranche of €7.5 billion notes, maturing in one-year, were sold at an average yield of 4.153 percent, adds Bloomberg.

The second tranche of €4 billion notes, with maturity in three months, were sold at an average yield of 1.907 percent. Italy still faces €75 billion of maturing bills this year and is required to issue about €80 billion of bonds to pay for redemptions and the budget deficit.

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