TAP Air Portugal (TP, Lisbon) held investor calls on June 17 and 18 seeking to raise a EUR300 million euro (USD343 million) five-year junk-rated bond. The Portuguese government recently announced that it hopes to finalise the sale of a 49.9% stake in TAP by mid-2027, selecting between remaining bidders Air France-KLM or Lufthansa by September 2026.