Portugal says aims to borrow 11.5 bn euros from markets in 2013
Portugal's public debt agency said Friday the country aims to borrow 11.5 billion euros ($15.4 billion) this year and may tap the long-term bond market for the first time since being bailed out in 2011.
“If market conditions and demand for Portuguese public debt continue to register positive developments the Treasury will explore carrying out bond emissions,” said the debt management agency.
Portugal has been shut out from the medium- and long-term debt markets since getting a 78 billion euro EU-IMF bailout in May 2011, issuing only short-term treasury bills.
Under its bailout agreement Portugal is supposed to return to the bond markets this year.
In the first quarter Portugal aims to raise between 6.25 and 7.0 billion euros in emissions of bills with maturities ranging from three to 18 months.
It will first go the markets on January 16 to try to raise 2.25 to 2.5 billion euros.