Investors pull out of Portuguese ECP
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Investors pull out of Portuguese ECP

The Republic of Portugal raised Eu291m from the European commercial paper market on Tuesday morning but as peripheral eurozone sovereign spreads blew out later in the day — and even before Standard & Poor’s weighed in with a two notch downgrade — dealers said that the issuer was being shunned by investors. The country’s banks will also struggle to issue CP, said dealers.

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