Portugal prepares to issue 10-year bonds
This will be the first long-term funding operation of this second quarter of the year, being the first auction held on the line that became the reference for the 10-year maturity.
Portugal is returning to the debt market to finance itself. It has scheduled a double auction of treasury bonds with a maturity in October 2031 and October 2035 to be held next week, at a time when the benchmark rate is at 0.5%. It wants to raise up to €1,250 million.
“On the 12th of May at 10:30 a.m. (11:30 a.m. CET) IGCP, E.P.E. is going to auction the Portuguese Government Bonds maturing on October 2031 (OT 0.3% 17Oct2031) and on October 2035 (OT 0.9% 12Oct2035) with an indicative global range amount of €1000 million to €1250 million,” the Treasury and Public Debt Management Agency (IGCP) announced in a statement.
This will be the first long-term funding operation of this second quarter of the year, and the first auction held on the line that became the reference for the 10-year maturity.
Portugal launched the new line of Treasury bonds, maturing in 2031, at the beginning of April. In this 10-year syndicated issue, the IGCP placed €4 billion with an interest rate of around 0.3%.
