Treasury bonds matured in 2021, but repayment was postponed for eight years in a debt swap operation carried out this Wednesday.
Portugal on Wednesday extended from 2021 to 2029 the maturity of 949 million euros of Treasury Bonds (T-Bonds) already in circulation, in the first such exchange this year, the institution that manages public debt announced.
According to the website of the Portuguese Treasury and Debt Management Agency, the IGCP, in the T-Bonds exchange offer the agency bought €949 million euros of bonds titled “OT 3.85 April 2021” at a price of 105.376%.
At the same time, as part of the exchange operation, the IGCP sold 949 million euros of newly issued “OT 1.95 June 2029” at an average price of 116.04%.
The exchange operation, which thus extended by eight years the maturity of 949 million euros in outstanding public debt, was the first this year.
The IGCP carried out six such operations last year.