Portugal sets price thoughts on bond tap
LONDON, Jan 9 (IFR) - The Republic of Portugal has set initial price thoughts on a five-year bond tap on Thursday morning, a deal that is crucial in proving Lisbon is able to finance itself in the bond markets ahead of its planned bailout exit in mid-2014.
Portugal, rated Ba3/BB/BB+, is marketing the increase of its 4.75% June 2019 euro bond at mid-swaps plus 340bp area.
Barclays, CaixaBI, Goldman Sachs, HSBC, Morgan Stanley and Societe Generale will launch and price the deal later in the day. (Reporting by John Geddie, Editing by Helene Durand, Julian Baker)