IGCP to issue €1.25Bn in bonds
The Portuguese public debt agency IGCP will hold an auction for short-term sovereign bond issues in the fourth quarter of this year.
The aim is to raise up to €1.25Bn. On Monday, the institution headed by Cristina Casalinho announced that the auction for six and 12 month bonds will take place on 17 November with a total amount of between €1Bn and €1.25Bn.
In the fourth quarter, the IGCP also plans to issue Treasury Bonds through auctions with the expectation that these bonds will raise between €1Bn and €1.25Bn per auction.
“The treasury bonds auction will involve Specialist Treasury Bond Operators (STVO) and Primary Market Operators (PMO) and may be undertaken on Mondays or Wednesdays of each month after the announcement of the amount, with auction lines reopening up to three working days before the respective auction date,” states the institution which manages Portugal’s public debt.
The IGCP adds that it will “follow the market conditions attentively so that it can introduce adjustments to current lines of action”.
According to the financing programme for 2021 revealed at the start of the year, the total needs for Portugal’s net financing should be at around €14Bn this year, with the IGCP expecting to raise €15Bn through the issue of long-term debt bonds.