Republic of Portugal (PGB)

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Republic of Portugal (PGB)

C/P	Industry	Status	Ticker(s)	Issuer(s)	Size(m)		Tranches	Region	Date
IGC	SSA	PRCD	PGB	Republic of Portugal	€3,000		1	EMEA	May 28, 2026

Tranche #1Republic of Portugal

currency

EUR

size (m)

3,000.000

maturity

Jun 15, 2046

type

Fixed

tenor

20.000

call

registration

144A/Reg S (Cat 1)

benchmark

Swaps

ranking

Sr. Unsecured

moody's

s&p

A+

fitch

size description

re-open/tap

ipt

ipt-pxd

-2

guidance

MS+69 area

spread

coupon

3.875%

spread set

price

99.47700

yield

3.913%

book size (m)

54,500

peak book (m)

54,500

x-covered

18.17

book attrition

0.00%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

book size (m)

54,500

peak book (m)

54,500

x-covered

18.17

book attrition

0.00%

nic

billing & delivering

active leads

joint leads

,,,,

passive leads

co-managers

coordinating managers

Tranche Comments

Book size: 54500; First Pay: 2027-06-15; Registration: 144A/Reg S (Cat 1); Comments: DBR 3.4% May-47 +44.5bps, Spot: 98.97% / 3.468%, HR 94%;

Deal Comments

UPDATE: Spread Set at MS+67

Hide Details

CreditFlow: End of Day (Europe IG)	May 28, 2026

May 28, 2026

1 to 1 of 1

	PRICED: Republic of Portugal €3bn 20yr PGB; MS+67bp	May 28, 2026
	ALLOCATIONS OUT: Republic of Portugal €3bn 20yr PGB; MS+67bp	May 28, 2026
	LAUNCHED: Republic of Portugal €3bn 20yr PGB; MS+67bp	May 28, 2026
	UPDATE: Republic of Portugal € bmk 20yr PGB; Spread set at MS+67bp	May 28, 2026
	NEW ISSUE: Republic of Portugal € bmk 20yr PGB; MS+69a	May 28, 2026
	MANDATE: Republic of Portugal Reg S/144A € bmk 20yr PGB Offering May Follow	May 27, 2026

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Republic of Portugal (PGB)

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