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By John Geddie
LONDON, Jan 18 (IFR) - Portugal, rated Ba3/BB/BB+, has
embarked on its first major investor roadshow since it received
a bailout in 2011, sources said.
Citi, Morgan Stanley and Stormharbour have organised
meetings with U.S.-based fixed income investors for a
week-and-a-half long roadshow which will explain Portugal's debt
strategy, the sources said.
Portugal has undergone ad hoc roadshows in Europe over the
last 12 months, but nothing of this extent, one syndicate
"The investor reaction has been very positive so far. If
investors believe in Europe then they will buy Portugal - it is
the highest yielding asset by some margin," one source close to
the deal said.
Local newspaper Diario Economico reported on Thursday that
Portugal was planning to issue a five-year syndicated bond in
the next few days, depending on the success of the
"It looks like it's going to be a euro deal, but not as soon
as next week," the bank source added.
Debt agency chief Joao Moreira Rato was in the United States
on Thursday when government spokesperson Luis Marques Guedes
encouraged the agency to tap into improving market sentiment by
issuing bonds and bills with an eye to a full return to markets
"as soon as possible".
(Reporting By John Geddie and Alex Chambers, editing by Julian