IFLR1000

The Republic of Portugal €750 million variable treasury bond issue

17/5/2016
Investment grade bond/note issue, Sovereign bond issue
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€ 750 million

$ 809.412 million

Completed

17/5/2016

Overview:

  • The Portuguese Republic issued a €750 million treasury bond to the Lisbon Euronext Stock Exchange, maturing 2021.
  • OTRV Maio 2021, the bond, paid a semi-annual variable interest rate equal to the 6-month Euribor rate plus 2.2%, with a minimum interest rate of 2.2%. 
  • Banco BPI, Caixa Geral de Depósitos and Novo Banco acted as global organisers and coordinators. 
  • The bond was initially offered at €350 million, but initial demand was €1.2 billion. 
  • The bond was limited to retail investors. 

John Crabb - Journalist 

Jurisdiction:

Portugal

Deal types:

Investment grade bond/note issue
Sovereign bond issue

Practice area:

Capital markets : Debt

Governing law:

Portugal

Industry sector:

Government and public policy

Firms:
PLMJ

Party: IGCP - Agência de Gestão da Tesouraria e da Dívida Pública (Issuer)

VdA Vieira de Almeida

Party: Banco BPI (Global coordinator)

Party: Novo Banco (Global coordinator)

Party: Caixa Geral de Depósitos (Global coordinator)

Lawyers: Hugo Moredo Santos, Pedro Cassiano Santos

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