The Republic of Portugal (Aa2/AA-/AA) issued on April 25 its first syndicated OT in 2007. The new €3 billion benchmark matures on 16 October 2017, pays a coupon of 4.35% and was priced at a spread of +18 bp over the DBR 3.75% due 4 January 2017. Joint lead managers were Banco Espirito Santo, HSBC, Lehman Brothers, Morgan Stanley and Société Générale. |