LONDON, Jan 23 (IFR) - The Republic of Portugal,
rated Ba3/BB/BB+, is marketing a tap of its new 4.35% October
2017 bond to investors at mid-swaps plus 410bp area, marking the
start of its first bond deal since it was bailed out in 2011.
Market sources said the deal will price later on Wednesday
via Barclays, Banco Espirito Santo, Deutsche Bank and Morgan
Portugal's October 2017 bonds were trading at mid-swaps plus
390bp when it announced the tap on Tuesday, according to
Tradeweb data, indicating that the country is offering investors
a 20bp premium to purchase the new supply.
(Reporting By John Geddie, editing Anil Mayre)