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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
Portugal has managed to price the much anticipated €3 billion 10 Year bond.
Terms:
- 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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Just shy of 30 bps higher than this morning, if I remember a previous post correctly.
The Bund spread that is.
Since its really German paper or American paper.
Oh my, what big yield you have "AA-bond"! Time to swap all of my financial assets into Portuguese gov't paper....
now they only have to sell it... what was the sales rate on their 500mn bond recently? 60%?
According to http://stockmarket33.blogspot.com/ dow 6000 soon
iamned (the artist formerly know as Cetin) sucks!
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.
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.
how is the deal trading?
market due to plunge
hat tip to: http://stocknews.freeoda.com
just start printing Portuguesos
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