IGCP confirms auctions of Treasury bills to six and 12 months – Business Journal – Portugal

IGCP confirms auctions of Treasury bills to six and 12 months – Business Journal – Portugal

The institute led by Cristina Casalinho seek with this operation from 750 to 1,000 million. The last time the IGCP held an auction of treasury bills at six months was in July last year, while the latest titles operation to 12 months happened in December.

The Treasury Management Agency and Public Debt (IGCP) confirmed that it will be held next Wednesday two auctions of Treasury bills (BT). The institute led by Cristina Casalinho (pictured) advances the amount that seek the market will be between 750 and 1,000 million euros.

“The IGCP will be held on January 21 at 10.30am hours two BT lines of auctions with maturities in July 17, 2015 and January 22, 2016 “, announced this Friday, December 16, the agency responsible for managing the national debt. The first of the lines in question is the BT 17JUL2015, in the case only to reopen the same. In the longer term, this is a launch of a line (BT 17JAN2016) to serve as a reference (“benchmark”) within one year.

This information only confirms the timetable that had been presented for the first quarter of 2015, emerging, however, with a change as far as the indicative amount. This is because, at the time, the IGCP had indicated that it would seek to raise between 1,000 and 1,250 million euros in the market with the first BT auction of the year.

A slight adjustment in the financing program, which may result from the success of government bond auctions this week, but also high savings mobilization through retail products, including the Savings Certificate and Certificate Treasury Savings Plus (CTPM). Only between January and November last year, these two products have captured more than four billion euros.

The last time the IGCP held an auction of BT to six months was in July 2014. At the time , Portugal has chosen to put 400 million euros on the line wins the next day January 23, at an average interest rate of 0.243%. In the longer maturity, the last operation dates back just last December with the institute paid an average interest rate of 0.282% to issue 850 million euros in BT 12 months.

( updated news to 18h24)