Greece’s Finance Minister states that the new five-year bond “exceeded all expectations”

Greece's Finance Minister states that the new five-year bond "exceeded all expectations" 1

Greece's Finance Minister states that the new five-year bond "exceeded all expectations" 2

Greece has raised €2.5 billion from a five-year-bond, the country’s first time tapping into the international capital markets for financing since exiting the last bailout, Greece’s Finance Minister Euclid Tsakalotos announced today.

The bond issue, yielding 3.6 percent had “exceeded all expectations” Tsakalotos stated in parliament. He continued to say that he “had warned New Democracy and the rest of the opposition some time ago that they should not put all their eggs in the ‘we can’t tap the markets’ basket…. Today we had a successful issue, we offered the markets a five-year bond of 2.5 billion euros with a yield of 3.6 pct and a coupon below 3.5 pct. That 2.5 billion euros are 36 pct of our total demand in 2019. You will see at the Public Debt Management Agency that the plan for accessing the market was for 7.0 billion euros and today we raised 2.5 billion.”

“If you look at the investors who participated, you will notice a significant transition from hedge funds to normal investors…Greece is changing category,” he continued.

 

*Source: AMNA