LISBON: Portugal raised 4 billion euros ($4.34 billion) of 10-year bonds in a syndicated issue on Thursday, with demand coming mainly from European fund managers, the IGCP debt agency said.
The bond was issued at mid-swaps plus 205 basis points, according to IFR. "The transaction benefited from the participation of a granular array of institutional investors," IGCP said in a statement.
"The geographical distribution was diversified with large participation from investors based in the UK, Europe, North America and Scandinavia."
The IGCP said 24 percent of demand came from UK-based investors, followed by 23 percent from France, Italy and Spain.
A total of 89 percent of the bond was bought by foreign investors.
Fund managers were the biggest buyers, snapping up 47 percent of the issue, followed by banks which bought 32 percent.
This was the first bond issue of 2016 and came after the IGCP said last week it planned gross bond issuance this year of between 18 billion and 20 billion euros.
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