Portugal to issue new government bonds next Wednesday

  • ECO News
  • 6 May 2022

The Portuguese Treasury and Debt Management Agency (IGCP) expects to obtain up to €750 million with this new auction.

Portugal will auction eight-year government bonds next Wednesday, an operation through which it hopes to obtain funding of up to €750 million.

“On the 11th of May at 10:30 a.m. (11:30 a.m. CET) IGCP, E.P.E. is going to auction the Portuguese Government Bond maturing on October 2030 (OT 0.475% 18Oct2030) with an indicative range amount of €500 million to €750 million,” announced the Portuguese Treasury and Debt Management Agency (IGCP) in a statement.

This auction comes at a time when interest rates on European debt are skyrocketing, following the rise of inflation, accentuated by the war in Ukraine, which has pressured the European Central Bank (ECB) to act and precipitate the first rise in reference rates in a decade.