Greece is proceeding with a new 30-year bond issue, wanting to take advantage of the momentum returning to the international markets, but mainly the positive climate towards Greece after the unexpected upgrade of its outlook to positive by S&P on Friday night.
Specifically, ODDIX has authorized BNP Paribas, BofA, Deutsche Bank, Goldman Sachs Bank Europe SE, JP Morgan and Piraeus as Joint Lead Managers for a new security maturing on June 15, 2054.
The syndicated transaction will commence in the near future, subject to market conditions, the announcement concluded.
This is the second largest exit to the markets this year, after the issuance of the new 10-year note in January, while the offer book is expected – provided market conditions are favorable – to open tomorrow Wednesday.
It is recalled that on April 17, ODDIX proceeded to reissue Greek bonds maturing on February 4, 2035, raising 200 million euros with a yield of 3.61%.
Early repayment of bailout loans up to 5 billion in 2024
Moreover, according to Reuters sources, the Greek State is aiming for the early repayment of loans, amounting to 2.5 to 5 billion euros, by the end of 2024. This is the repayment of loans from the rescue package from the Eurozone countries of the first memorandum, with the aim of returning to normality, strengthening the sustainability of the public debt and the confidence of the markets in the prospects of the Greek economy, in a period favorable for the country, after the recovery of the investment grade.
In particular, according to a government official cited by Reuters, the repayment is likely to be made in the second half of the year.
He even added that this will create a greater margin for issuing securities without increasing the debt, while at the same time liquidity will be added to the otherwise “shallow” Greek debt market. In particular, around 70% of government debt is in the hands of banks, the Eurozone and the ECB.
It is noted that including the early repayment of 2024, Greece will have returned approximately 15-17 billion euros in loans from the Eurozone countries.
moneyreview.gr
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