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Updated December 21st, 2023 at 17:11 IST

Portugal plans to boost 2024 bond issuance to $15.20 billion

The planned 2024 bond issuance of 13.9 billion euros signifies a notable rise from the 9.4 billion euros issued in 2023.

Business Desk
Representative
Representative | Image:Shutterstock

Portugal is set to release government bonds totaling up to 13.9 billion euros ($15.20 billion) in 2024, as announced by the state debt agency IGCP on Thursday. This marks an increase from the 9.4 billion euros issued in 2023, with net financing needs, estimated at 11.9 billion euros.

The monthly bond offerings will take place through regular auctions or syndications, according to IGCP. The net issuance of Treasury bills is anticipated to positively impact net financing by 6.1 billion euros, a reversal from this year's negative 4.5 billion.

In the current year, Portugal had initially planned to issue bonds worth almost 20 billion euros. However, due to the European Central Bank's successive interest rate hikes, the effective issuance amount was gradually reduced throughout the year.

(With Reuters Inputs)

Published December 21st, 2023 at 17:11 IST

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