LISBON: Portugal is planning to issue up to 14 billion euros of treasury bonds in 2015 at regular auctions.
The IGCP said in its financing programme for 2015, that the country’s net borrowing needs will reach 11 billion euros this year.
This will be the first year since 2011 that the country carries out normal debt financing through markets after it exited a bailout last year. Portuguese bond yields have fallen sharply since then and are currently trading near record lows on hopes of quantitative easing by the European Central Bank.
“The financing strategy for 2015 will be focused on the Portuguese government bonds curve with regular issuance of government bonds through auctions to promote liquidity and the efficient functioning of the primary and secondary market,” IGCP said.
It said it also expects to issue 2.5 billion euros of debt in retail products to investors through the year.
Bonds may also be sold through syndicated issuance, the IGCP said.
Bond auctions will be held on the second and fourth Wednesday of every month and the terms of the auctions will be announced three days before the sale.
Treasury bills will be sold at auctions to be held on the third Wednesday of every month and the IGCP may hold another auction on the first Wednesday of the month if there is sufficient demand.
Treasury bill auctions will be held on Jan. 21, Feb. 18 and March 18 in the first quarter, with up to 1.25 billion euros to be issued of two bill series at each sale.
Pakistan offers 1,000 acres of land to Turkish investors in Karachi Industrial Park
ISTANBUL: Pakistan has offered 1,000 acres of land earmarked for Turkish enterprises in Karachi Industrial Park, inviting Turkish companies to...
