July 12, 2023
Economy
0 Views
Greece on Tuesday successfully completed a 15-year syndicated bond issue, raising 3.5 billion euros at an interest rate of 4.45%, down from an initial estimate of 4.5%.
Bids submitted exceeded 13.4 billion euros, of which 11.6 billion in cash and 1.8% in bond swap.
The Greek state returned to capital markets for the first time after the June 25 elections, taking advantage of a positive climate prevailing in the domestic bond market. The issue was part of a programme aimed to reduce the country’s public debt through a premature repayment of 5.5 billion euros of loans signed during the first memorandum.
BNP Paribas, BofA Securities, Deutsche Bank, Goldman Sachs, JP Morgan and National Bank act as lead managers of the issue.
National Economy and Finance Minister Kostis Hatzidakis welcomed the successful completion of the syndicated bond, saying it “attests to the forthcoming investment grade for Greece.”