Portugal raises €4 billion in syndicated 10-year bond with record demand (eco.sapo.pt)

• Portugal raised €4 billion via a syndicated 10-year bond at 3.25%.
• Investor demand hit a record €49 billion.
• The spread over German bunds was 37.9 bps, lowest since 2007.

"Portugal issued a €4 billion syndicated 10-year bond on January 8, 2026, yielding 3.25%. Investor demand exceeded €49 billion, a record. The spread over German bunds was 37.9 basis points, the lowest since 2007. The IGCP, Portugal's debt agency, managed the operation with a syndicate of banks. This is the first of three planned syndicated issues for 2026, part of a €29.4 billion gross financing need."