The Portuguese State had to accept this Wednesday to pay investors a rate of 2.75% to finance itself for 10 years, the highest cost since September 2017. The cost compares with the approximately 1% that the State paid at the beginning of February, before the start of the war in Ukraine, but at a time when interest rates in the countries were already rising due to the prospect of faster monetary tightening by central banks.
In a double auction of Treasury bonds, the IGCP -now led by Miguel Martín- issued 780 million euros in 10-year debt, with an implicit return for investors of 2.754% -compared to the 1.69% that it was paid on April 6 in the syndicated issue that served to inaugurate this same line of Treasury bonds maturing in 2032. In June, at auction, the cost had been 2.33%.
Interest to go up. The new debt is no longer cheaper than the old
470 million euros in four-year debt were also placed, to be amortized in 2026, with an implicit rate of 1.777%.
Source: Observadora
