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Portugal Prices €3 Billion 10 Year Bond At 99.841, 4.823% Yield, 140 bps Over Swaps, 163.7 bps Over 2020 Bund

Tyler Durden's picture


Portugal has managed to price the much anticipated €3 billion 10 Year bond.


  • Price: 99.841
  • Maturity: 6/15/2020
  • Yield: 4.823%
  • Coupon 4.80%
  • 140 bps over Swaps
  • 163.7 bps over 10 Year Bund
  • Ratings Aa2/A+ (ha ha ha ha)

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Wed, 02/10/2010 - 12:25 | Link to Comment bruce wayne
bruce wayne's picture

Just shy of 30 bps higher than this morning, if I remember a previous post correctly.

Wed, 02/10/2010 - 12:31 | Link to Comment bruce wayne
bruce wayne's picture

The Bund spread that is.

Wed, 02/10/2010 - 12:40 | Link to Comment bugs_
bugs_'s picture

Since its really German paper or American paper.

Wed, 02/10/2010 - 12:46 | Link to Comment Astute Investor
Astute Investor's picture

Oh my, what big yield you have "AA-bond"!  Time to swap all of my financial assets into Portuguese gov't paper....

Wed, 02/10/2010 - 12:44 | Link to Comment Anonymous
Wed, 02/10/2010 - 12:59 | Link to Comment GoldmanStole (not verified)
Wed, 02/10/2010 - 13:26 | Link to Comment Astute Investor
Astute Investor's picture

iamned (the artist formerly know as Cetin) sucks!

Wed, 02/10/2010 - 13:22 | Link to Comment IveBeenHad
IveBeenHad's picture

you know what be interesting is to see a chart of the 10 yr bund rate compared to 10 yr UST rate over the last couple of years. i am surprised that the bund rate is actually lower at this point and this latest bailout talk has not pressured them higher.  

Wed, 02/10/2010 - 13:39 | Link to Comment Circumspice
Circumspice's picture

I would like to thank Moody's and S&P for identifying such a compelling opportunity. I'm getting like a 151 bp credit spread based on some crap I threw together (just discounting with 3M Euribor), and the only real risk is that the "rating is subject to moderate downward pressure." Them Portuguese must be crazy, crazy, to be offering investors such a deal.

Wed, 02/10/2010 - 13:56 | Link to Comment Anonymous
Wed, 02/10/2010 - 14:02 | Link to Comment badtimes (not verified)
Wed, 02/10/2010 - 14:38 | Link to Comment trav7777
trav7777's picture

just start printing Portuguesos

Mon, 04/19/2010 - 10:33 | Link to Comment Tom123456
Tom123456's picture

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