PORTUGAL ISSUES 700 MLN FRENCH FRANC BOND
The Republic of Portugal is issuing a 700
mln French franc variable-rate bond due July 1995 at 100.05
pct, lead manager Credit Commercial de France said.
    The issue of unsecured, unsubordinated debt will have a
coupon based on three-month LIBOR plus 20 basis points. If on
any interest date this is 25 pct or more above three-month
Paris Interbank Offered Rates then the interest rate will be
three-month PIBOR plus 30 basis points. Payment date is July
24. There is a call at par at the end of the first year and
thereafter on any interest payment date. Listing is Paris and
denominations are of 10,000 and 100,000 francs.
    Fees total 50 basis points, with 25 points for selling and
25 for management and underwriting combined including a six
basis points praecipuum.
    The issue is rated A by Moody's.
 REUTER
