The IGCP had said when announcing the operation that its aim was to reduce the state’s interest payments and extend the maturity of its debt burden.
Portugal on Wednesday carried out a debt swap involving €1.906 billion in Treasury bonds in circulation, to maturities of 2023 and 2027, from 2020 and 2021 previously, with a view to reducing interest costs and extending maturities.
The state debt management agency, the IGCP, said that in the offer of exchange for treasury bonds, it bought back €1.036 billion euros of bonds due to mature on 15 June 2020 at 109.39% and €870 million in bonds due to mature on 15 April 2021 at 109.39%.
As part of the same operation, the IGCP sold €1.565 billion of bonds maturing 25 October 2023 and €341 million of bonds maturing 14 April 2027.
The IGCP had said in announcing the operation that its aim was to reduce the state’s interest payments and extend the maturity of its debt burden.