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Q4 Issuance Plans Released

PORTUGAL

Portugal has reduced its target for OT 2023 OT issuance by E4.0bln to E10.3bln.

  • It has also announced it expects to issue via auction of E1.0bln-1.25bln in Q4-24 (this means there will be no more syndications and probably one auction plus some potential exchange auctions).
  • The specific PGBs to be auctioned have not been announced. As normal, auctions will be held on the 2nd or 4th Wednesday of each month, with details announced up to three days before.
  • Net issuance of Treasury Bills will decrease by E2.5bln. 2023 net issuance is now expected to be -E3.3bln (vs -E0.8bln prior).
  • A new 6-month and new 12-month T-Bill will be auctioned on 15th November 2023, with an indicative combined size of E1.0-1.25bln.
  • The full release can be found at the following link.

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