The IGCP (Portuguese Treasury and Debt Management Agency) disclosed the financing programme for the second quarter, in which it will sell 1.25 billion in auctions and syndications.
The Portuguese government aims to issue Treasury bonds (PGB) through syndications and auctions. Concerning the latter, it is expected that between one and 1,250 million euros will be issued, revealed this Monday the Portuguese Treasury and Debt Management Agency (IGCP).
“During the quarter, IGCP intends to issue PGB using a combination of syndications and auctions, with an expected issuance amount between 1,000 and 1,250 million euro per auction”, is stated in the press release from the entity headed by Cristina Casalinho. However, for the second quarter of 2017, the Government has not revealed the total amount it intends to place in Treasury bonds. The Financing Programme predicts, for now, three auctions of Treasury bills, of the indicative amount between a minimum of a thousand and a maximum of 1,500 million euros, per auction. The first auction of Treasury bills will happen on April 19.
Most of the operations will be the reopening of PGB, but on May 17, it is predicted the launch of a new 12-month PGB. This is the auction with the highest indicative amount. The expectation is to place between 1,250 and 1,500 million euros, in comparison to the one thousand to 1,250 million euros in other auctions.
The IGCP states it will “continuously monitor market conditions, which may result in a change of the present quarter guidelines”.