LISBON: Portugal plans to issue up to 20 billion euros ($21.7 billion)in bonds via syndication and regular auctions this year to cover estimated net borrowing needs of 7 billion euros, the state debt agency IGCP said on Thursday.
"An amount of between 18 billion to 20 billion is to be met through gross issuance of bonds combining syndicated operations with auctions, which we aim to do at least one per quarter," the IGCP said in a statement.
It also expects to raise 1.7 billion euros from retail debt instruments and will explore opportunities to perform bond exchanges and buybacks.
As previously, it will also hold Treasury bill auctions once a month, offering a total of up to 3.75 billion euros in the first quarter, with the first auction to be held on Jan. 20 and offering between 1 billion and 1.25 billion euros total in six-month and 12-month bills.
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