Portugal put on hold as peripherals widen — but solid demand for quality

KfW has shown its pulling power this week with no compromise on size as it bookbuilds for a Eu5bn five year benchmark, but the Republic of Portugal has not been so lucky. The country’s Eu3bn 10 year transaction has been put on hold as peripheral spreads continue to widen. Read EuroWeek on Friday for in-depth coverage of these and other SSA transactions, including the European Community’s successful Eu1bn five year and SFEF’s planned two year dollar bond.