LONDON, Sept 3 (IFR) - The Republic of Portugal (Ba1/BB/BB+) has fixed the spread on its 15-year benchmark euro-denominated bond at 235bp over mid-swaps, according to a lead.
This is at the tight end of the renewed price guidance issued after books opened on Wednesday morning. Initial price guidance was in the low 240s over mid-swaps.
The order book for the deal has risen to more than 8bn.
Portugal is expected to price the bond later on Wednesday via joint lead managers CaixaBI, Credit Agricole CIB, Danske Bank, Deutsche Bank, Morgan Stanley and Nomura.
Reporting By Michael Turner; Editing by Philip Wright