Portugal Telecom hits €1bn as funds pile into periphery

Portugal Telecom returned to the bond market on Tuesday for the first time since October, when it made an emphatic re-entry to public institutional markets after Portugal’s May 2011 bail-out. This week, it sold if anything an even more successful deal.

  • 03 May 2013

The company is now rated Ba2/BB, a notch lower with Standard & Poor’s than when it raised €750m of 5.5 year money six months ago. Both outlooks are negative.

But investors are in a much more bullish mood towards Portugal than last year. The sovereign’s 10 year bond yield ...

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5 Citi 24,204.97 95 5.39%