Portugal will move forward with a ten-year debt issuance by means of a banking syndicate

  • ECO News
  • 9 January 2018

IGCP had Barclays, Citigroup, Crédit Agricole, Goldman Sachs, JPMorgan and Novo Banco launch a new line referring to ten-year Treasury bonds.

The rumor had been spread last week and although it was not official, the news agency Bloomberg discloses that Portugal will move forward with a syndication of ten-year Treasury bonds. The operation will be launched soon and it will be subject to the terms of the market, the agency highlights.

The banks Barclays, Citigroup, Crédit Agricole, Goldman Sachs, JPMorgan Chase and Novo Banco have already been instructed to launch this new line referring to Treasury bonds maturing in ten years. These new debt securities will mature in October 17 of 2028 and will get to the market with a Ba1/BBB-/BBB rating.

The amount that will be raised by IGCP will be soon announced, according to Bloomberg. Analysts from Commerzbank, who had anticipated this syndication last Friday, pointed to an amount standing between 3,000 and 3,500 million euros, which goes in line with last year’s syndicated operation.

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