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Wednesday, September 2, 2020, 4:49 pm
The demand for the reissue of the 10-year bond was unexpected with offers worth 18,000 million euros, while the Greek government raised about 2,500 million euros, while the interest rate stood at 1.23%.
Initially, the interest rate was in the range of 1.32%, however, the high demand reduced it to 1.23%. According to the Financial Times, the interest rate at which the issue was closed means that Greece will pay a virtually zero premium against bonds traded on the secondary market.
The six international banks Barclays, Citi, IMI-Intesa Sanpaolo, Morgan Stanley, Nomura and Société Générale had taken over the reopening of the 10-year bond, which was issued last June with a yield of 1.568% and a coupon 1.5%.
Now the cash reaches the amount of 34.7 billion euros and, according to the information, another 3 to 4 billion euros will be needed before the end of the year and that will be covered by government securities issues as well as resources from the EU. Ε.
Chr. Staikouras: another success in the field of shopping
Finance Minister Christos Staikouras expressed his satisfaction with today’s reissue of the 10-year bond in a statement, noting that Greece recorded another significant success in the markets.
As Staikouras said for the third time after the outbreak of the coronavirus pandemic, the international investment community confirmed its confidence in the Greek economy.
“The country borrowed at the lowest cost ever in Greek government bond issues.” he affirmed.
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