Portugal wants up to €4.25 billion in short-term debt
The Treasury and Public Debt Management Agency (IGCP) will resort to issuing treasury bonds and bills in the second quarter of the year.
Portugal will soon return to the markets to finance itself. The Treasury and Public Debt Management Agency (IGCP) will resort to issuing treasury bonds and bills. In short-term debt, it expects to obtain up to 4.25 billion euros in the second quarter of the year.
“During the quarter, IGCP intends to issue government bonds using a combination of syndications and auctions, with an expected issuance amount between 1,000 and 1,250 million euro per auction,” said the IGCP. These auctions will be held on the 2nd or 4th Wednesday of each month.
In addition to these operations, in which Portugal has benefited from very low interest rates, in the wake of the European Central Bank’s pandemic bazooka, it plans to maintain regular short-term funding operations, in which it has successively achieved negative rates.
The first operation with treasury bills will take place on April 21, with a three and 11-month auction that aims to raise up to €1.25 billion. An identical one is scheduled for June, with the same indicative value.
