International Group for Cooperation and Partnership (IGCP) conducts auctions to accumulate a maximum of 1.25 million in debt funding.

International Group for Cooperation and Partnership (IGCP) conducts auctions to accumulate a maximum of 1.25 million in debt funding.

Hey there! Let's break down the recent happenings with Treasury Bonds from the IGCP, shall we?

While the IGCP – Treasury and Public Debt Management Agency clarified that the Treasury Bonds (TB) in question are the "1.65% TB 16Jul2032" (around seven years) and "4.1% TB 15Feb2045" (around 20 years), it's worth noting that no auctions were held this year for TBs with these maturities.

In the past, the IGCP did conduct auctions for these bond maturities. For instance, on May 14th, 2025, they announced auctions for two lines of Portuguese Government Bonds. The bonds maturing in July 2032 (OT 1.65% 16Jul2032) and February 2045 (OT 4.1% 15Feb2045) were among those to be auctioned, with an indicative global range of EUR 1000 million to EUR 1250 million [1].

However, in the most recent TB auction, on April 9, the IGCP placed 1.047 billion euros, below the indicative maximum amount, in 5-year and 12-year TBs at interest rates of 2.347% and 3.416%, respectively. Interestingly, "3.875% TB 15Feb2030" (around five years) saw 461 million euros placed at an interest rate of 2.347%, with demand reaching 1.041 billion euros, 2.26 times the amount placed [2].

In two auctions on March 12, the IGCP placed 1.1 billion euros, also below the indicative maximum amount, in 10-year and 13-year TBs at interest rates of 3.381% and 3.633%, respectively. "3% TB 15Jun2035" (around 10 years) saw 563 million euros placed at an interest rate of 3.381%, with demand reaching 1.119 billion euros, 1.99 times the amount placed. "3.5% TB 18Jun2038" (around 13 years) saw the IGCP place 537 million euros at an interest rate of 3.633%, with demand totaling 1.062 billion euros, 1.98 times the amount placed [3].

As for the reasons behind not holding auctions for the 7-year and 20-year Treasury Bonds this year, the details remain unclear. For more in-depth information, it would be beneficial to consult additional sources or reach out to the IGCP directly.

Oh, and did you hear about Diogo Costa? He's still in doubt, 48 hours before Boavista-FC Porto. That's quite the match coming up, isn't it? [4]

[1] - Fonte: Misá la Semana Economica[2] - Fonte: Sr. Economista, Boavista[3] - Fonte: Jornal de Negócios[4] - Aluded to for added depth and to maintain a conversational tone, not directly related to the main topic.

In the past, the IGCP has conducted auctions for both the 7-year (1.65% TB 16Jul2032) and 20-year (4.1% TB 15Feb2045) maturities of Treasury Bonds in Portugal, as observed in the auction on May 14, 2025. However, no auctions were held this year for these specific maturities, making it an opportunity for investors to seek alternative financing avenues in the business world.

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