Lisbon, March 12, 2025 (Lusa) - Portugal's state debt management office placed €1.1 billion - below the maximum indicative amount in the operation - in 10- and 13-year Treasury Bonds (OTs) at yields of 3.381% and 3.633% respectively, it announced on Wednesday, regarding an operation in which the cost of borrowing overall was up.

According to the page on Bloomberg of the Treasury and Public Debt Management Agency (IGCP), €563 million in bonds were placed in the form of ‘OT 3% 15Jun2035’ (a maturity of around 10 years) at a yield of 3.381%, for which demand totalled €1.119 billion, or 1.99 times the amount placed.     

As for ‘OT 3.5% 18Jun2038’ (a maturity of around 13 years) the IGCP placed €537 million at a yield of 3.633%, with demand totalling €1.062 billion, or 1.98 times the amount placed. 

For Wednesday, IGCP had announced two auctions of 10-year and 13-year OTs, with a total indicative amount of between €1 billion and €1.25 billion.           

The previous OT auction took place on 12 February, when IGCP placed €1.496 billion, below the overall maximum indicative amount, in nine-, 17- and 27-year OTs at yields of 2.786%, 3.342% and 3.433%, respectively.

That day, €516 million of ‘OT 2.25% - 18Apr2034’ (around nine years' maturity) were placed at a yield of 2.786% and demand totalled €1.084 billion, 2.10 times the amount placed.     

Of ‘OT 1.15% - 11Apr2042’ (around 17 years) the IGCP also placed €489 million at a yield of 3.342% in February; demand totalled €930 million, or 1.90 times the amount placed. 

Of ‘OT 1% - 12Apr2052’ (around 27 years) the IGCP placed €491 million at 3.433% and demand was €848 million, 1.73 times the amount placed. 

MC/ARO // ARO.

Lusa