Portugal goes back to the short term market next week
IGCP, the agency headed by Cristina Casalinho, is preparing a return to the short-term debt market next week, after having its first auction of the year, which had the most negative interests ever.
Portugal will return to the debt market next week. The Portuguese Debt Management Agency, IGCP, aiming to raise up to 1,250 million euros in Treasury Bills maturing in three to 11 months.
IGCP scheduled for next Wednesday a double auction of securities maturing in May of 2018 and January of 2019, “with an indicative global range amount of EUR 1000 million to EUR 1250 million”.
This will be the second short term auction of the year. In the first auction of 2018, the agency managing the Portuguese public debt registered the most negative interest rates ever by placing 1,750 million euros in six and 12 months’ debt: interests were -0.425% and -0.398%, respectively.
This week, premiering in long-term auctions, the agency headed by Cristina Casalinho raised 1,250 million euros, but was not able to get rid of the increase in charges due to the increase in volatility of financial markets.
