Lisbon, Sept. 18, 2024 (Lusa) - Portugal on Wednesday placed €750 million, the minimum indicative amount, in six- and 12-month treasury bills (BTs) at average yields of 3.161% and 2.794% respectively - lower than in previous comparable auctions, the state debt magament agency announced.           

In these two auctions, the amount placed corresponds to the minimum limit of the indicative amount and the average yield fell for both the six- and 12-month bills compared to the previous comparable auctions, held on 15 May. 

According to the page on Bloomberg of the IGCP, the Portuguese Treasury and Debt Management Agency, €250 million were placed in six-month BTs at an average yield of 3.161%, against the rate of 3.631% at the last comparable auction in May. Demand in this latest auction totalled €1.180 billion euros, or 4.7 times the amount placed. 

Also on Wednesday, Portugal placed €500 million in 12-month BTs at an average yield of 2.794%, also lower than the previous auction of bills of this maturity, also held on 15 May, which was 3.451%. Demand this time totalled €1.645 billion, or 3.29 times the amount placed.     

The IGCP had announced two auctions for Wednesday of BTs maturing on 21 March 2025 (six months) and 19 September 2025 (12 months) with an indicative total amount of between €750 million and €1 billion.

In the previous comparable auctions for these maturities, on 15 May, Portugal placed a total of €1.25 billion, the minimum indicative amount, in six-month and 12-month BTs at average yields of 3.631% and 3.451%, respectively. 

MC/ARO // ARO.

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