IGCP announced its issuance plans for the third quarter of the year, which include issuing treasury bonds (OTs) in auctions and also three treasury bill (BT) auctions.
Portugal’s public debt management agency, the IGCP, on Thursday announced its issuance plans for the third quarter of the year, which include issuing treasury bonds (OTs) in auctions and also three treasury bill (BT) auctions, while stressing that it may later adjust this timetable.
“During the quarter, IGCP intends to issue [Portuguese government bonds] using auctions, with an expected issuance amount between €750 and 1,000 million per auction,” it said in a statement, while stressing that it would “continuously monitor market conditions, which may result in a change of the present quarter guidelines.”
Regarding OTs, the IGCP specifies that the placements “can be held on the 2nd or 4th Wednesday of the month after announcement of the indicative amount and the [bonds] to be tapped up to three days before the respective auction date.”
As for the BT issues, it said that the first one, of six and 12-month bills, with an indicative amount of between €1.25 and €1.5 billion, would take place on July 21.
The second auction in the quarter, of three- and 11-month BTs, with an indicative amount between €750 million and €1 billion, is to take place on August 18, and the third, of between €1 billion and €1.25 billion six- and 12-month BTs, is scheduled for 15 September.