IGCP to issue syndicated ten-year debt
The agency controlled by Cristina Casalinho will proceed with an issue of Treasury Bonds with maturity on October 18th, 2030.
The Treasury and Public Debt Management Agency (IGCP) will issue a new line of Treasury Bonds with maturity on October 18th, 2030. According to Bloomberg, quoted by Jornal de Negócios, there is no date for the completion nor the amount of this issue, but it should happen this Wednesday.
For this issue, the IGCP mandated the banks Citi, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan and Novo Banco. In addition, there is also a banking syndicate, given that this operation involves larger amounts than regular Treasury Bonds (T-Bonds) auctions.
This issue had already been anticipated by Danske Bank and the Danish bank had even recommended to investors the purchase of Portuguese public debt after the European Central Bank (ECB) resumed the Euro Zone public debt purchase programme.
Although the amount of this issue is not known, the amount that the state will have to pay could be indicated by the interest on the ten-year Portuguese debt, which is being negotiated at around 0.3%. In a similar operation that took place in early 2019, the IGCP issued four billion euros at ten years with an interest rate of less than 2%.
