Portugal makes early debt repayment of €1.4 billion
IGCP held on Wednesday a buyback auction of two treasury bonds maturing in October 2023 and February 2024.
The Treasury and Public Debt Management Agency (IGCP) held on Wednesday a buyback auction of two treasury bonds maturing in October 2023 (OT 4.95% 25Oct2023) and February 2024 (OT 5.65% 15Feb2024), which resulted in anticipating €1.4 billion that was to mature in the next two years.
This debt buyback operation was very well received by investors, with the volume of offers for the line that would mature next year having an offer four times greater than the State’s demand and the 2024 line registering an offer 1.3 times greater than demand.
With this operation, the State takes the pressure off for the next two years.
