Energias de Portugal has favoured international banks over nationals by mandating Barclays Capital, Citigroup and Deutsche Bank as bookrunners to lead arrange the national energy company's €1.25bn to €1.5bn three tranche bond sale this week.

Banco Espirito Santo, Caixa Geral de Depostos and Banco Comercial Português have been mandated in the secondary role as joint lead managers by the company.