Portugal returns to the market. It will issue 10 and 27 year debt
This Friday, IGCP announced a ten and 27-year auction. All in all, the entity headed by Cristina Casalinho wants to raise 1.25 billion euros.
Portugal will return to the debt markets next week. One of the auctions matures on October 17 of 2018 and the other matures on February 15, 2045 — the same is to say that Treasury bonds have very long maturities. The global indicative amount stands between one billion euros and 1,250 million euros.
“On the 14th of March at 10:30 a.m. IGCP is going to auction the Portuguese Government Bonds maturing on October 17, 2028 and on February 15, 2045 with an indicative global range amount of EUR 1000 million to EUR 1250 million”, IGCP announced. The Portuguese State wants to go to the markets to get 15 billion euros in Treasury bonds throughout 2018.
The last time Portugal went to the markets to issue debt maturing in 2045 was in July of 2017. By then, IGCP raised 315 million euros, paying a 3.977% rate. The 10-year auction is more common: the entity headed by Cristina Casalinho got 760 million euros on February 14 of this year with a 2.08% rate.
On the secondary market, the 10-year line is being transected with a 1.85% implied rate and the 30-year line stands at 2.88%, a reference for what is expected to be paid next week.
