Portugal to offer new dollar bond

|By:, SA News Editor

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%.

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