Greece picks banks for 15-year bond, first foray into international markets since 2010 crisis

·

Greece on Monday opened books for a new 15-year bond issue, in its first foray into international markets since the 2010 financial crisis, officials said.

The state debt management agency said it had “mandated Barclays, BNP Paribas, BofA Securities, Goldman Sachs International Bank, HSBC and JP Morgan” as joint managers for the offering with a 2035 maturity.

According to officials, the issue plans to draw some 2-2.5 billion euros ($2.2-2.8 billion) at an interest rate of around two percent.

Athens is seeking to capitalize on the lower interest rates now available in the financial markets and a recent upgrade by ratings agency Fitch.

The country is emerging from a decades-long financial crisis and regular bond issues are seen as a step toward normalcy. They also aim to improve liquidity as well as its investor base.

Greece aims to borrow between 4.0 and 8.0 billion euros ($4.4-9 billion) in 2020, according to the government’s budget. Last year it raised 9.0 billion euros in bonds.

Sourced via Urdu Point.

Cretan Convention - Web Banner

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Archbishop Makarios leads celebrations in Crete honouring the Four Holy New Martyrs

His Eminence Archbishop Makarios of Australia presided over a two-day celebration in Rethymno, Crete, honouring the Holy Four New Martyrs.

Stephen Pallaras KC to contest election after mystery accident

Former state prosecutor Stephen Pallaras KC says he will still contest next year’s SA election despite suffering serious injuries.

Michael Theoharis among 55 charged in SA-wide AN0M sting

Fifty-five people have been charged following coordinated dawn raids across South Australia as part of a major AN0M sting.

Hurricane Melissa leaves dozens dead across the Caribbean

Hurricane Melissa, one of the strongest storms on record, has left dozens dead and widespread devastation across Jamaica, Haiti and Cuba.

Prosecutors allegedly link Perry Kouroumblis to Easey St murders with DNA evidence

Prosecutors in Melbourne’s Easey Street murder case allege that DNA found is “highly likely” to have come from Perry Kouroumblis.

You May Also Like

Melbourne’s Grecian Ball still relevant especially for future of Greek community

The 2nd Grecian Ball by the Greek Community of Melbourne was about future generations and the carrying on of the torch.

Man who stole Nick Kyrgios’ Tesla and held mother at gunpoint heads to jail

The man who stole world tennis star Nick Kyrgios' green Tesla at gunpoint has been sentenced to four-and-a-half years in jail.

Feeling abandoned by Europe, Greece hardens migration policy

The government is taking a tougher approach "so we don't send the wrong message of incentivizing people to come" to Greece.