IGCP will issue up to 4,250 million in short term debt in the second quarter

  • ECO News
  • 5 April 2018

The forecast is that Treasury bonds are issued by combining syndicated issuances and auctions, placing 1,000 and 1,250 million per auction. IGCP will also place up to 4,250 million in Treasury bills.

The calendar for sovereign debt issuances in the second quarter of the year is already drawn. The Portuguese Debt Management Agency, IGCP, foresees issuing Treasury bonds by means of a syndication and auctions. Treasury bills will also be issued, for a maximum of 4,250 million euros.

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“, the entity headed by Cristina Casalinho states in a press release, this Thursday. Like usually, IGCP schedules the Treasury bonds’ auctions for the second, fourth or fifth Wednesday of each month.

Concerning the schedule of Treasury bills‘ placement, the forecast is that a global maximum amount of 4,250 million euros will be placed. That will be mostly made by reopening lines, and a new 12-month line will be launched.

According to IGCP’s callendar, the next Treasury bills’ auction will be performed on April 18. It will concern the reopening of two lines — three and 11 months — worth between one billion and 1.25 billion.

On May 16, Treasury bills will be placed by reopening a six-months’ line and by opening a new 12-months’ line. In this operation, the forecast for the amount that will be placed stands between 1,500 million and 1,750 million euros.

On the third issuance, forecasted for July 20, between one billion and 1,250 million euros will be placed. A three months line and a 11-months’ line will be reopened for that issuance.