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Portugal Taps Bond Markets

Wall Street Journal Original article ›

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New Feb. 2024 dated debt issued by Portugal offers investors a yield of 5.20%. In Jan. 2014 Portugal issued 5 year debt for 3.25 billion euros. Plans are to raise 11-13 billion euros through bond issuance in 2014 to build up cash reserves and prefund needs for 2015. Refinancing needs are about 10 billion euros annually according to Moody's. The debt level has reached 128% of GDP by Jan 2014 after GDP declines and aid to struggling companies.

Deficits as a percentage of GDP for Spain, Italy, Ireland, Portugal and Greece 2011-2013

04/30/2010

Grouped Articles

Italy Urged to Resist a Relapse in Spending

Wall Street Journal 05/03/2013

Europe to Vote on Tougher Rules for Currency

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Portugal Plans Cuts in Spending

Wall Street Journal 05/30/2013

A Warning Light to Alert the I.M.F.

New York Times 09/21/2011

The Next Global Problem: Portugal

New York Times 04/30/2010

German Optimism Depends On Spanish Deficits

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Portugal- government debt, ratings and borrowing costs

10/23/2010

Grouped Articles

Ratings Gag Is No Joking Matter

Wall Street Journal 07/12/2011

Return of Long-Term Bond Buyers Seen as Crucial to Europe

New York Times 06/29/2012

Greece Gets New Bailout as U.S. Nears Brink

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Portugal Plans Debt Sale

Wall Street Journal 05/07/2013

Portugal Returns to Bond Market

Wall Street Journal 05/08/2013

Portugal's Government Thrust Into Turmoil

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Why Portugal is different from Greece in 2012-2013, and yet may find its debt unsustainable as the economy shrinks- the situation in 2012-2013

04/30/2010

Portugal is taking vigorous steps without social unrest, including spending cuts that will stabilize the deficit, labor reform, and increasing exports through trading links to Africa and Latin America. Portugal needs to borrow about 10 billion euros in 2012 and the ratings downgrade has hurt Portugal by raising rates on new borrowing to about 20%. The economy is expected to shrink by 3% in 2012.

Grouped Articles

Ratings Gag Is No Joking Matter

Wall Street Journal 07/12/2011

Greece Gets New Bailout as U.S. Nears Brink

Wall Street Journal 07/22/2011

Portugal Returns to Bond Market

Wall Street Journal 05/08/2013

Idea of Euro Exit Finds Currency in Portugal

Wall Street Journal 05/27/2013

The Next Global Problem: Portugal

New York Times 04/30/2010

Portugal Emerges From Recession

Wall Street Journal 08/15/2013


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