Successful issue of Portuguese treasury bonds dedicated to retail

“OTRV NOVEMBRO 2021” demand exceeds €2 billion

Lisbon– 28 November 2016 – Euronext today announced the results of the successful issue of Treasury Bonds dedicated to retail investors, to be listed in its regulated market on November 30. Initially set at €500 million, the Portuguese Treasury and Debt Management Agency (IGCP), which has issued this “OTRV NOVEMBRO 2021” bond on behalf of the Portuguese government, has triplicated the total amount to €1.5 billion based on a surge in demand for the subscription period.

During the subscription period, which took place between 14 and 25 November, demand for the “OTRV NOVEMBRO 2021” bond exceeded €2 billion.

Over 94% of the treasury bonds for retail were purchased by Portuguese investors, around 90,000 in total, with the remaining 6% bought by foreign investors residing in Portugal. The average value of the orders placed was over €16,000 each.

This was the largest bond issue ever processed on the Euronext Lisbon centralisation system, totalling close to 92,000 valid orders.

The “OTRV NOVEMBRO 2021” bond pays a semi-annual variable interest rate equal to the 6-month Euribor rate plus 2%, with a minimum interest rate of 2% (Annual Gross Nominal Rate), and reaches maturity on 30 November 2021. Banco BPI, Banco Comercial Português, Caixa Banco de Investimento and Novo Banco were the banks acting as global organisers and coordinators of this treasury bond sale.

This has been the third issue of Treasury bonds dedicated to retail to take place in 2016, making a total amount of €3.45 billion.

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