Portuguese Treasury announces exchange offer
The operation aims to repurchase treasury bonds maturing in October 2023 and February 2024, and investors who accept it will be able to hold Portuguese debt for a few more years.
The Treasury and Public Debt Management Agency (IGCP) on Wednesday will carry out another exchange offer to ease repayments for the coming years. The purpose is for investors to swap bonds maturing in 2023 and 2024 for others whose maturities end in 2031 and 2052.
“On the 27th of October, 2021 at 10:00 a.m. (11:00 a.m. CET) IGCP, E.P.E., is going to perform an exchange offer” of treasury bonds, the Portuguese agency announced.
The operation aims to repurchase treasury bonds maturing in October 2023 and February 2024, and investors who accept it will be able to hold Portuguese debt for a few more years.
The exchange can be made for bonds maturing in October 2031 or for longer-term securities, which will only be repaid by Portugal in April 2052.
