Portugal markets tap of Feb 2024 bond at 325bp area over mid-swaps

Tue Feb 11, 2014 3:13am EST

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LONDON, Feb 11 (IFR) - The Republic of Portugal, rated Ba3/BB/BB+, is taking indications of interest on a tap of its 5.65% February 2024 euro benchmark bond, according to a source.

The sovereign has announced initial price thoughts of 325bp area over mid-swaps for the increase, which will be benchmark in size.

Barclays, BES, Citigroup, Credit Agricole CIB, RBS and SG CIB have been hired to lead manage the trade, which is expected to be today's business. (Reporting by Sudip Roy; Editing by Helene Durand, Julian Baker)

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