LISBON: Portugal plans to offer government bonds via a combination of regular auctions and syndication in the second quarter, state debt agency IGCP said, expecting placements of between 1 billion and 1.25 billion Euros per auction.
It also plans to offer up to a total of 4 billion Euros of Treasury bills during the quarter in monthly auctions on April 17, May 17 and June 21, with two maturities to be offered in each sale.
The first auction will be a reopening of the July 2017 and March 2018 maturities, with a total of between 1 billion and 1.25 billion Euros on offer.
Unlike T-bill auctions, bond auctions are scheduled only a few days in advance. The IGCP did not say how many bond auctions there would be in the quarter.
In the first quarter, Portugal raised 4.5 billion Euros via a syndicated bond placement and around 2.3 billion in two regular auctions.
The IGCP has said it plans to issue between 14 and 16 billion Euros of bonds this year.
