Wednesday, July 2, 2014

Portugal will offer a new 10-year U.S. dollar-denominated government bond, which already has a pre-sale demand above $2B. The issuance will be launched in October, and displays Portugal's new financial standing after an exit from its three-year bailout program in May. The initial price guidance for the bond is attractive to investors looking for higher yield, and will be priced 265 basis points above Treasurys, at a yield of around 5.20%.