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IGCP updates Portugal's funding............>

PORTUGAL
PORTUGAL: IGCP updates Portugal's funding programme for 2020:
- Central gov't net borrowing seen at EUR20.3bln (vs EUR10.7bln previously)
- Bond issuance net of buybacks seen at EUR29.3bln (up EUR12.6bln from previous)
- Bill issuance (net) seen at EUR3.2bln (vs EUR1.3bln previously)
- IGCP notes has already sold EUR15.4bln in PGB this year, >50% of new target.
- In current quarter, IGCP plans to issue PGBs via auctions (expected issuance
of EUR1.25-1.5bln per auction) and syndications; will be three monthly bill
sales in the quarter (Jul, Aug, Sep). 

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