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Following on from the 7:24 bullet where....>

PORTUGAL
PORTUGAL: Following on from the 7:24 bullet where Mizuho say they expect the
15-year syndication to be at least EUR4bln, perhaps EUR5bln, UniCredit are
looking for a smaller increase but also note that their estimate is the lower
bound. From UniCredit:
"We expect the Portuguese Treasury to sell at least EUR 3bn of the new bond.
Notably, this will be the third syndicated deal in 2020 after the issuance of a
new 10Y benchmark (PGB 0.475% Oct30) in January and a new 7Y bond (PGB 0.70%
Oct27) in April."

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