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Portugal Selling 10-Year Bonds for First Time Since 2011 Bailout

Portugal is selling 10-year bonds for the first time in more than two years as it seeks to regain full access to debt markets following its 2011 bailout.

The new securities due in February 2024 may yield 400 basis points more than the mid-swap rate, according to a person familiar with the matter who asked not to be identified because they’re not authorized to speak about it. Investors have so far indicated interest in excess of 4 billion euros ($5.23 billion), though the offer size of 3 billion euros will not be increased, the person said.

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