Today11:04
GUIDELINES: In the markets with a new bond issue, Greece
With the new move, an attempt is made to take advantage of the price stability prevailing in the markets before the European elections.
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The bid book has opened for the issuance of the new 30-year bond, due June 15, 2054, with the initial interest rate being around 4.3%.
It is recalled that the last time the Greek State had borrowed through a 30-year bond was in 2021, while the last exit of the State to the markets with the issuance of bonds was last January when it had drawn 4 billion euros, while it had collected offers amounting to 35 billion. euro. In total, it aims to borrow 10 billion euros for the entire year. The size of the new issue of the 30-year bond is estimated to be between 2 and 3 billion euros.
The new exit of the Government to the markets with such a long-term issue is facilitated after the recent upgrade of the outlook of the Greek economy to the “positive” category by the rating agency Standard & Poor’s.
It is noted that all rating agencies except Moody’s Ratings put Greece back in the investment grade zone last year, a position it lost in 2010 when the debt crisis began. S&P Global Ratings raised Greece’s outlook to positive from stable on Friday on expectations that continued tight fiscal policy will reduce Greece’s public debt proportionately more, while the Greek economy’s growth rate will remain higher than that of other eurozone countries.
Managers of the new syndicated issue are the banks BNP Paribas SA, Bank of America Corp., Deutsche Bank AG, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Piraeus Bank SA.
Source: RES-MPE
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