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10/15-year OTs

PORTUGAL AUCTION PREVIEW
  • Portugal will come to the market this morning to offer up to E1bln of 10/15-year OTs.
  • This will be the first outright Portuguese auction since July with the August, September and October operations all being exchange auctions.
  • With Portugal having already raised E13.5bln of its E15.0bln funding target for the year, this may be the last auction of the year (with potential for a further exchange operation).
  • Timing: Results will be available shortly after the auction closes at 10:30GMT.
Issuance History
DateIssuedAvg yieldBid/coverPricePre-auctOperation
0.30% Oct-31 OTCurrent0.309%
27-Oct-21E681mln0.387%99.15Exchange
09-Jun-21E700mln0.397%1.53x99.0298.92Auction
12-May-21E551mln0.505%2.47x97.9297.70Auction
07-Apr-21E4bln0.344%99.55NewSynd
DateIssuedAvg yieldBid/coverPricePre-auctOperation
4.10% Apr-37 OT
Current0.617%
25-Aug-21E336mln0.479%154.41Exchange
14-Jul-21E292mln0.609%2.49x152.26151.87Auction
14-Oct-20E346mln0.472%2.29x157.45Auction
10-Apr-19E400mln1.896%1.90x133.36Auction

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