March 2009
Bond markets: Alberto Soares on Portugal’s pressure points
One of the smallest EU sovereign issuers is determinedly fighting its corner, as Portugal’s debt agency head, Alberto Soares, tells Alex Chambers.
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Alberto Soares, IGCP: in a good position for the year ahead |
How do you feel about the progress you have made for your financing activity in the first quarter?
Our financing needs for the first quarter are relatively small, so our issuance plan for the present quarter isn’t too challenging, even in these market conditions. The first OT auction of February 11 was quite well received by the market and with the new OT 2019 (€4 billion issued after a two-week hiatus at the end of February), the huge majority of our financing needs to be covered during the first quarter by medium-term and long-term instruments will be done.
Other nations have responded to burgeoning deficits by shifting from auctions to more syndicated sales – what are your plans?
Even considering the potential additional needs derived from the government rescue plans and a small increase of the revised...
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