Friday, February 10, 2017

Treasure back Wednesday to the markets to auction short-term – Jornal de Negócios – Portugal

A week after the bond issues where raised 1.180 million euros paying more than in comparable operations, the Treasure the Portuguese return to the markets, this time for two auctions of short-term – three and 11 months.

according To a statement sent by the IGCP – Agency and Treasury Management of the Public Debt, the institution that manages the sovereign debt, is expected to raise between 1,000 and 1,250 million euros, a value that is above the initially expected – that pointed to between 750 million to 1,000 million euros.

Treasury bills to which they relate these two auctions are due in May 19, 2017 and 19 January 2018. In both cases, it is the reopening of existing lines.

In the last auction of comparable conducted on 19 October, the Treasury placed the maximum amount desired – 1,250 million euros, with interest rates negative in the mature short form (-0,012%) and interest of 0.06% in the period to 11 months.

Already in the last operations of short-term funding carried out in the case, in maturities 6 and 12 months -18 last January, Portugal was able to rates historically negative, taking advantage of the height of the market conditions favourable.

the financing plan of The IGCP, in respect to the first quarter of 2017 and the auction of Treasury bills, pointed out to raise, in total, between 3.250 and 4,000 million euros in the three operations mentioned.

(News updated at 16:57 with more information)


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