IGCP will hold next Wednesday, September 16, a Treasury Bill auction with maturity on September 17, 2027, with an indicative amount between 1,000 and 1,250 million euros. The operation is scheduled for 10:30 am and corresponds to the issuance of the BT line with 12-month maturity.
The expected amount is in line with recent BT operations. In the July 15 auction, referring to a line with maturity in July 2027, IGCP had indicated a range of 1,000 to 1,250 million euros and ended up placing 1,005 million euros. Also in June, on a line with maturity in May 2027, it placed 1,008 million euros.
In the July issuance, Portugal placed 1,005 million euros in 12-month BTs at an allocation rate that rose slightly from 2.613% to 2.682%, while demand remained solid, reaching 2.43 times the amount issued. More recently, on September 9, the agency held an auction of three Treasury Bond lines, placing a total of 1,631 million euros.
Wednesday's auction will be the next short-term financing operation for the Portuguese state. The article notes that the current geopolitical context continues to exert pressure on interest rates.
