Portugal hires banks to issue new syndicated debt
The Portuguese Treasury intends to carry out the operation using a banking syndicate of which the following are members: Caixa BI, Credit Agricole, Deutsche Bank, Goldman Sachs, JP Morgan and Nomura.
The IGCP is back on the market, Portugal will move forward with a syndication of 15-year Treasury bonds. According to Bloomberg, quoted by Jornal de Negócios, the banks have already been hired to conduct this long-term financing operation.
The Portuguese Treasury intends to carry out the operation using a banking syndicate of which the following are members: Caixa BI, Credit Agricole, Deutsche Bank, Goldman Sachs, JP Morgan and Nomura.
This issue will mature in 2035, i.e. within 15 years, according to the US news agency, and the amount to be issued is not indicated, nor when this operation will reach the market. However, it says it will be “in the short-term, subject to market conditions.”
This operation is identical to the one that the Portuguese treasury carries out every year in the first months of the year, which has enabled the country to meet an enormous part of its financing needs in each financial year. Usually, around 3 to 4 billion euros are raised.
