The IGCP went to the market this Wednesday and managed to issue nine-year debt with a lower interest rate than in the previous comparable issue.
Portugal today auctioned €914 million in treasury bonds, below the maximum indicative amount) at around nine and 16 years at lower interest rates compared to previous comparable auctions, it was announced.
According to the IGCP, which manages public debt, on the Bloomberg agency page, €622 million of bonds were auctioned maturing on 18 October 2030 (around nine years) at a yield 0.127%, lower than the 0.397% recorded in an auction with a similar maturity on 9 June, when €700 million in 10-year OT were sold.
Demand stood at 2.29 times the amount placed.
With maturity on April 15th 2037 (about 16 years), Portugal also auctioned €292 million at a yield of 0.609%, also lower than the previous comparable auction on 12 May, when €699 million were placed of about 15 years at 0.841%.
Demand reached 2.49 times the amount placed.
IGCP had announced that it would hold two OT auctions of around nine and 16 years, with a total indicative amount between €750 million and €1 billion.