Portugal returns to the debt market before the ECB meeting

ECB holds a monetary policy meeting on Thursday and the day before IGCP tests investors' appetite for nine-year bonds.

Portugal returns to the debt markets next Wednesday, on the eve of the European Central Bank (ECB) monetary policy meeting that may leave clearer signals about the path of interest rates in the Eurozone.

The IGCP will hold an auction of Treasury Bonds maturing in October 2031, to obtain funding of between €500 million and €750 million, the agency said on Friday.

Portugal has already secured half of the funding programme in Treasury bonds planned for this year, with the average cost of new debt at 1.2% (double the cost of debt issued last year).