Three months ago, the IGCP repaid US€1.1 billion in advance. Now it wants to repurchase new debt issued in US currency.
The Portuguese Treasury will carry out a new early repurchase operation of debt in dollars, the IGCP announced on Tuesday. The value of the transaction was not disclosed.
The operation will take place this Wednesday, and Portugal intends to repurchase treasury bonds issued in US dollars in July 2014 which were due to mature in 2024. For these bonds, the country pays a coupon of 5.125%.
Three months ago the IGCP carried out a similar operation, having early redeemed US$1.12 billion in bonds that only matured in three years.
IGCP has followed a strategy of smoothing the public debt repayment profile over the next few years, through debt swap operations and also through the repurchase of anticipated debt in dollars.