IGCP has placed on the market an issue of 4 billion euros in Treasury Bonds, with a maturity of 15 years at an interest rate of 0.928%
Portugal has placed on the market an issue of 4 billion euros in Treasury Bonds, with a maturity of 15 years at an interest rate of 0.928%, the Ministry of Finance said in a statement.
“Demand exceeded 40 billion euros, over 10 times the amount placed,” informed the Ministry of Finance on Wednesday.
In the same note, the ministry recalled that in the “previous 15-year issue, which took place in April 2018, it placed 3 billion euros at a rate of 2.325%, with demand being 16 billion euros, or five times higher.”
According to the Ministry of Finance, with this issue, there has been “over the last two years, and despite the current crisis situation caused by the Covid-19 pandemic, a significant improvement in the State’s financing conditions, reflecting the markets’ confidence in the recovery of the Portuguese economy and the performance of public accounts”.
In another statement, the IGCP – Treasury and Public Debt Management Agency – stated that this is Portugal’s third transaction in 2020 and that, “with this issue, Portugal has reached more than 69.1% of its emissions target of 29.3 billion euros” this year.
According to the IGCP, this issue had the participation of more than 380 entities, “representing a strong and diversified demand, mainly from Europe, especially France, Italy, Spain and the United Kingdom.”