Protected: Home Forums NexTech Fish Tank Forum Portugal gets record demand for new 15-year bond, raises $4.5 bln

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      chanawoodall0
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      <p>AMSTERDAM/LISBON, July 1 (Reuters) – Portugal raised 4 billion euros ($4.50 billion) via a syndicated debt issue on Wednesday after getting record demand in excess of 41 billion euros for the new 15-year bond, lead managers said.</p> <p>The 0.9% coupon bond was priced at 0.928%, above the 0.555% yield on a similar-dated, 2.25% bond registered in an auction in February, before the main impact of the coronavirus pandemic was felt in Europe.</p> <p>That same 2034 bond now fetches around 0.75% in the secondary market.</p> <p>The final investor demand was well above the previous record of 30 billion euros Portugal gathered for a seven-year sale in April.</p> <p>Other euro zone peers have also enjoyed strong demand over the past month after very generous central bank stimulus measures have boosted already strong appetite for non-core euro zone debt.</p> <p>Still, the issuance comes at a price as these countries, often exposed to greater economic risks, have to pay a premium to persuade investors to take on more debt than they did before the outbreak.</p> <p>The demand included 2.35 billion euros from the lead managers.</p> <p>Caixabank, Credit Agricole, Deutsche Bank, Goldman Sachs, JP Morgan and Nomura are managing the sale.

      ($1 = 0.8879 euros) (Reporting by Yoruk Bahceli and Andrei Khalip; Editing by Alison Williams)</p></div>
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      nextechhawaii
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      Ekaterina • Donald Harington • 9781592640966

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