Portugal is the first issue of long-term debt year
IGCP want to place between EUR 750 and 1,000 million in the market.
Portugal will re-issue Treasury Bonds (OT), this time to six years, revealed the Treasury Management Agency and Public Debt (IGCP) this Friday, May 22. The OT auction will take place as early as next Wednesday, May 27, and you want to get to market between 750 and 1,000 million euros. Since 2010 the institution led by Cristina Casalinho not issued bonds to six years. The last auction was in 2010 – when Alberto Soares was the command of the IGCP -. And the average interest rate achieved was 6,156%
Currently interest rates for Portuguese bonds to six years in the secondary market, were negotiating in 1.43%, and even come to fall to 0,907 in mid-April, which means that Portugal should be financed at a price well below that achieved in 2010 before the financial rescue by international creditors.
This week Portugal issued with Treasury bills hit the six and twelve months with a total value of 1,500 million euros. At maturity to three months Portugal managed to issue with a negative interest rate.
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