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Greece raises 2.5 bln€ from reopening of 10-year bond issue|BCI GREECE

Α reopening of a 10-year Greek state bond issued attracted heightened interest by international investors on Wednesday, with submitted bids surpassing the 18-billion-euro mark.

Greece drained 2.5 billion euros from the markets, with the yield also concluding at a low 1.23 percent, another development that pleased the center-right Greek government.

The reopening of the latest 10-year bond issue – first floated on June 18 with a yield of 1.5 percent – came after the Public Debt Management Agency had set a target of four to eight billion euros for 2020. However, after the eruption of the coronavirus pandemic the agency raised the ceiling to 9.5 billion euros.

So far, Greece has raised 7.5 billion euros in bond issues for 2020.

In a later statement, Greek Prime Minister Kyriakos Mitsotakis praised the development as a vote of confidence for the country’s growth prospects, taking to Twitter to post the following: “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."

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