Portugal: Treasury sells $4.5 billion in US denominated bonds

Page created: Thursday, 3 July 2014 12:10 GMT

Auctions  Debt Auction  IGCP

The Portuguese government treasury and public debt agency (IGCP) has auctioned $4.5 billion in bonds at a yield of 3.65%, the agency’s president told Lusa.
João Moreira Rato, the IGCP president said that Portugal managed to issue the dollar-denominated bonds at about the same yield as euro bonds on the secondary market, which were trading at 3.627% on Wednesday.
In all, 311 investors participated in Wednesday’s auction with most coming from the USA (86%).
Asked whether the results were as expected, João Moreira Rato said he was “very satisfied” with the operation as the Portuguese treasury had managed to “diversify its investor base even more at rates that were equivalent to the secondary market in euros”.


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