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Foreign investors take up 94 pct of new Portugal bond
September 3, 2014 / 4:37 PM / 3 years ago

Foreign investors take up 94 pct of new Portugal bond

LISBON, Sept 3 (Reuters) - Foreign investors, mainly from North America and Britain, bought 94 percent of Portugal’s new 15-year bond on Wednesday, the country’s debt agency IGCP said after pricing 3.5 billion euros (4.60 billion US dollar) in February 2030 bonds.

It said that with the issue - Portugal’s first euro-denominated syndication since exiting an international bailout in May - the country has pre-funded some 2015 financing needs after meeting this year’s financing gaols.

“The final order book was close to 9 billion euros via over 270 accounts... The transaction enjoyed particularly strong take-up from international real money investors, demonstrating widespread demand for Portugal in the capital markets,” the IGCP said in a statement.

Asset managers took up over 66 percent of the issue, followed by insurance and pension funds with over 13 percent and banks with 13 percent. North American investors bought over 32 percent of the issue, followed by British investors with 29 percent. (1 US dollar = 0.7613 euro) (Reporting By Andrei Khalip)

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