Greece returns to markets again on Thurs. with 7-year bond
Greece returned to the markets on Thursday with a seven-year bond, an offering that was only temporarily postponed earlier in the week due to a mini crash in stock exchanges around the world.
According to finance ministry sources, the still bailout-dependent country is eying to drain roughly 3.0 billion euros from the markets.
The last seven-year bond floated by Greece came in April 2010 – days before the first bailout memorandum was announced – and offered a very high 6 percent interest rate.
While still enjoying a low-interest credit line extended by European creditors as part of the third memorandum, while the latter’s looming end in August has forced the shaky Tsipras government to test the markets outright.
The last foray onto international sovereign markets came in July 2017, when Athens sold three billion euros worth of five-year bonds at a yield of 4.625 percent.
According to FT, the Greek side began marketing the bond at around 3.75 per cent yield, although the exact size of the deal was not declared.
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