Portugal will issue up to 1.2 billion in 5 and 10-year bonds

  • ECO News
  • 6 March 2020

In the midst of the turmoil caused by the coronavirus, the IGCP wants to issue up to 1.2 billion euros in 5 and 10-year debt next Wednesday

Portugal returns to the markets on March 11, in the midst of the turmoil caused by the coronavirus in global financial markets. The Treasury and Public Credit Management Agency (IGCP) expects to issue between 1 billion and 1.25 billion euros in debt over five and ten years, announced the entity led by Cristina Casalinho.

“The IGCP will hold on March 11, at 10:30 a.m., two auctions of Treasury Bond lines with maturity in October 2025 (OT 2.875% 15 October 2025) and in October 2030 (OT 0.475% 18 October 2030),” the IGCP announced in a statement.

This issue comes at a time of turmoil in the financial markets, due to the coronavirus epidemic that originated in China. This Friday, the interest on the Portuguese 5-year public debt rises 0.6 basis points to -0.076%, while the 10-year yields fall 0.3 basis points to 0.25%.

The last IGCP long-term issue took place on February 12nd.