Greece raises €2.5 billion from reopening of 10-year bond issue

By 3 years ago

Greece drew strong demand, €2.5 billion, for a 10-year bond it reopened on Wednesday.

The high demand lowered the interest rate down to 1.23%.

Prime Minister Kyriakos Mitsotakis hailed the reopening of a Greek 10-year bond issue. "Greece today borrowed at the lowest yield ever in its history for any bond maturity. The re-opening of the 10-year bond raised €2.5 billion at a rate of about 1.2 pct. Against a global pandemic, we salute the vote of confidence in the Hellenic Republic," he tweeted.

Greece set a new all-time low interest rate and a record demand of more than 18 billion euros, Finance Minister Christos Staikouras said.

He noted that markets also applauded the holistic strategy drafted by the government for the speedier possible economic recovery so that the country achieved a strong, sustainable and socially fair growth.

The issue that matures on June 18, 2030, now has a total volume of €5.5 billion. When it was originally issued in June 2020, Greece drew €3 billion, at an interest of 1.50%.

Copyright GreekCityTimes 2022
Copyright GreekCityTimes 2022