“Mandate” to BNP Paribas, BofA Securities, Deutsche Bank, Goldman Sachs Bank Europe SE, JP Morgan and Piraeus Bank gave the Greek State to “run” the process of issuing a new 30-year bond, expiring on June 15, 2054.
This is Greece’s second “big” market exit for 2024, following the issuance of the new 10-year note in January, which, market conditions permitting, will take place tomorrow, Wednesday.
As it became known earlier today, Greece also plans to pay off up to 5 billion euros of bailout loans in 2024 to eurozone countries, according to government officials who spoke to Reuters.
It is noted that the country’s “premiere” in the markets for 2024, in January with the issuance of a 10-year bond, was a complete success as the Greek State had raised 4 billion euros at a time when the offers had exceeded 35 billion euros.
As then, the goal of the Greek State is to capitalize on the positive momentum surrounding the country’s economic prospects as well as the course of Greek bonds by including them in international indices.
On Friday, Standard & Poor’s, in a surprise move, upgraded the outlook of the Greek economy to positive from stable, in a harbinger of a possible further upgrade and credit rating in the next phase (which it maintained on Friday at BBB-).
Among other things, the American house noted that the positive outlook reflects its expectation that the strict fiscal regime will continue to encourage the reduction of the public debt to GDP ratio, while the growth of the Greek economy will continue to exceed that of the country’s bonds. in the Eurozone.
