IGCP returns to the market this week, aiming for 1,250 million in long-term debt

  • ECO News
  • 7 May 2018

IGCP will have two auctions for five and ten-year Treasury bonds this Wednesday. The goal is to raise up to 1,250 million euros.

Portugal returns to the market this Wednesday to issue long-term debt. There will be two auctions for five and ten-year Treasury bonds, in hopes to raise between one million and 1,250 million euros in financing, according to IGCP (Portuguese Debt Management Agency), in a press release.

“On the 9th of May at 10:30 a.m. (11:30 a.m. CET) IGCP, E.P.E. is going to auction the Portuguese Government Bonds maturing on October 2023 (OT 4.95% 25Oct2023) and on October 2028 (OT 2.125% 17Oct2028) with an indicative global range amount of EUR 1000 million to EUR 1250 million”, stated the entity headed by Cristina Casalinho.

The Treasury returns to the market three weeks after its last issuance, of short-term debt, in that case. On April 18, the Portuguese Treasury placed 1,250 million euros in two Treasury bills’ issuances, raising the most negative interests ever in the three-months rate.

This week’s return to the market is a part of the financing programme for the second quarter disclosed by IGCP in the beginning of April. The goal is to raise a maximum amount of 4,250 million euros during this quarter.