Demand for Portuguese debt reaches 15-year-high

• Portugal issued 5 billion euros in a syndicated bond issues with 515 investors

• The demand for debt hadn’t been this high since 2010, thereby reflecting market and investor confidence.

Portugal was on the market with a new syndicated bond issuance and raised 3.5 billion euros in bonds maturing in eight years and 1.5 billion through debt securities maturing in June 2054. 

The operation undertaken by the Treasury and Public Debt Management Agency (IGCP) was well received with around 515 investors asking part in a total of 81 billion euros in demand. 

The operation had many participants, and demand was 13 times higher than supply in the shortest maturity and 23 times higher for those maturing in 30 years, something that hadn’t happened since 2010. 

Portugal is therefore increasingly well ranked among foreign investors, which for this operation represented around 85% of demand for 8-year treasury bonds and almost 90% for 30-year securities. 

The Minister of State and Finance deems that "these numbers, together with the recent credit rating upgrades by Fitch and S&P reflect the confidence investors have in Portugal at this time." "This confidence is further boosted by the accounts disclosed yesterday by the Statistics Office and which note a downwards revision of the public debt ratio, as well as a surplus budget deficit", Joaquim Miranda Sarmento added. 

The Government acknowledges the professional work carried out by the Treasury and Public Debt Management Agency (IGCP) in managing the Republic’s public debt.