Greece returns to international capital markets, announcing five-year bond issue




Greece returned to international capital markets on Monday with a syndicated five-year bond issue. In an announcement to the Athens Stock Exchange, the finance ministry said that Bank of America Merrill Lynch, Goldman Sachs Group Inc., HSBC Holdings Plc, JP Morgan Chase & Co., Morgan Stanley and Societe Generale SA will act as underwriters in the new bond maturing in April 2024.

The new five-year bond issue was announced amid a positive international environment and specifically a strong buying interest recorded in recent state bond issues from Spain and Ireland. The old five-year bond yield was 3.03 pct in the domestic electronic secondary bond market.

The finance ministry expects to raise around 2-3 billion euros from the issue. The transaction will begin in the near future, depending on market conditions, the announcement said. Greece raised around 3.0 billion euros with a seven-year bond issue around a year ago.

Source: ANA-MPA

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