The IGCP placed 1.750 billion euros, the maximum indicative amount, in Treasury Bills (BT) maturing in July and September of next year, with an average interest rate of 2.005% and 2.009%.
The auction for “BT17JUL2026” saw demand reaching 1.622 billion euros, 2.16 times the amount placed, with 750 million euros placed at an average interest rate of 2.005%.
The auction maturing on 18 September 2026 had a demand of 2.187 billion euros, 2.19 times the amount placed, with 1 billion euros placed at an average interest rate of 2.009%.
These average interest rates for the two instruments are higher than those recorded in the last auction.
The last BT auction took place in July, when the IGCP placed 1 billion euros at an average interest rate of 1.906%, with demand reaching 2.83 times the amount placed.
On September 11, during a parliamentary hearing at the Budget, Finance and Public Administration Committee, the president of IGCP, Pedro Cabeços, stated the intent to diversify and attract new investors for Portuguese public debt.
According to Pedro Cabeços, the agency has been holding meetings “to understand what needs to be done” to pique investors’ interest.
“There are investors who do not include Portugal in their investment decisions,” he emphasized, indicating that the IGCP met with “more than 100 investors in the last two years to promote Portuguese debt.”
