Greece successfully completes reopening of 15-year bond
File Photo: In August, budget revenue was 5.530 billion euros, up 892 million from monthly targets. Photo via @amna_news
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
Greece on Wednesday successfully completed a reopening of a 15-year bond issue with the Greek state draining 2.0 billion euros the market at a lower interest rate of 1.17 pct, compared with an 1.9 pct interest rate in February.
The bookbuilding process attracted strong interest with binds surpassing 16 billion euros.
Commenting on the reopening of the bond issue, Greek Finance Minister Christos Staikouras said: “ The strong demand and the excellent quality of the issue highlight and confirm the confidence of international markets on the management and prospects of the Greek economy. I congratulate, once more, the Public Debt Management Authority for its methodical and efficient job”.
He added that the government was raising its cash reserves in conditions of high uncertainty because of the continuing pandemic crisis and geopolitical tensions in the region. “ We take all necessary measures for a step-by-step improvement of our homeland’s power. We are fully conscious that the difficulties are plenty and the challenges big. It is in our hands to overcome them. And we will, with faith in our forces, with plan, with realism and hard work”.
In the domestic electronic secondary bond market, the 10-year Greek bond yield rose to 0.91 pct from 0.82 pct the previous day. The 10-year German Bund yielded -0.597 pct with the yield spread between them rising to 1.507 pct from 1.43 pct on Tuesday. Turnover was a heavy 324 million euros of which 48 million were buy orders.
Source: ANA – MPA
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