The Portuguese Treasury and Debt Management Agency (IGCP) page on Bloomberg said €975 million of 10-year bonds went for an average of 1.778%, which was lower than the last auction for this maturity in mid-February when the rate was 2.046%.

Portugal also auctioned €275 million in 27-year bonds at a rate of 2.8%, also lower than the last auction of bonds for this due date last June, which was 3.977%.

The IGCP expects to borrow €15 billion this year in monthly issues combining auctions and syndicates.