Greece sells 15-year debt for first time in more than decade


Greece raised 2.5 billion euros ($2.77 billion) through a 15-year bond sale on Tuesday, according to a lead manager.

The bond priced for a yield of 1.911%, according to a source at the lead manager. The bond will pay a coupon of 1.875%.

Barclays, BNP Paribas, BofA, Goldman Sachs, HSBC and JP Morgan managed the sale.

The latest sale was announced on Monday when yields on 10-year notes hit a record low following Fitch Rating’s decision to raise the country’s sovereign grade.

The last offering of this tenor was concluded less than a year before the nation received a bailout, closing Greece off from international markets. It raised 7 billion euros at the time at 5.39%.

“It makes sense for these Treasuries to fund now,” said Peter McCallum, a rates strategist at Mizuho International Plc in London. “Greece can add a longer maturity point to their curve after the 5-year and 10-year last year, which should be well sought after,” he added.

Sourced via Reuters and Bloomberg.




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