LISBON: Portugal will offer between 750 million and 1 billion euros in 10-year government bonds in an auction on May 11, the IGCP debt agency said on Friday. The 2.875 percent coupon bond matures in July 2026.
A week ago, ratings agency DBRS maintained Portugal's only investment-grade mark, helping push its bond yields lower earlier this week. Moody's, which rates the country one notch into "junk" territory with stable outlook is set to publish its evaluation of the rating later on Friday.
Portugal's bond yields have jumped higher in the past two days along with other euro zone's peripheral issuers, in part due to increased supply coming next week, and many in the market had expected Portugal to use one of its monthly bond auction windows after it missed one last month.
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