Portugal finds interest at long end as bail-out nears end

Portugal Flag 230x150
By Craig McGlashan
15 May 2014

Portugal is readying itself for life beyond its bail-out by considering a return to syndications with a long dated deal this year, GlobalCapital can reveal. The issuer is also prepared to re-enter the Schuldschein market — but is unlikely to follow Spain (see separate story) with an inflation linker.

With no debt outstanding between 2024 and 2037, the sovereign — which exits its bail-out programme on May 16 — could issue in that part of the curve as part of its efforts to build up prefunding for 2015.

“There is a gap in our outstanding debt between ...

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