Bank of Greece. Credit: Greek ReporterGreece on Tuesday announced its return to international capital markets and mandated six banks to run a reissue process for a 7-year bond maturing in April 2027.
The 7-year bond issue carries a coupon of 2% and yields 2.013%.
The Public Debt Management Agency mandated BNP Paribas, BofA Securities, Citi, Deutsche Bank, Goldman Sachs Bank Europe SE and JP Morgan for the issue.
Greece’s return to capital markets follows an upgrade by Standard & Poor’s
The decision to return to capital markets follows Friday’s upgrade by Standard & Poor’s of Greece’s credit rating by one notch to BB with a stable outlook from BB with positive outlook. This rating is only one notch away from investment grade.
“The upgrade reflects our expectation of a continuous improvement in Greece’s policy effectiveness, while the fallout from the war in Ukraine appears manageable in light of considerable buffers in both the private and public sectors,” the agency said in a statement.
