Greece raises USD 3.5 billion in milestone bond issue

The Greek government says it has raised 3 billion euros from the country's first bond issue in more than three years, which was more than two times oversubscribed.

Published: 26th July 2017 01:29 AM  |   Last Updated: 26th July 2017 01:29 AM   |  A+A-

Finance Minister Euclid Tsakalotos said the result was satisfactory, and added that Greece would proceed with further bond issues before the end of its bailout program in little over a year.  

Greece's Prime Minister Alexis Tsipras (File | AP)

By PTI

ATHENS:  The Greek government says it has raised 3 billion euros (USD 3.5 billion) from the country's first bond issue in more than three years, which was more than two times oversubscribed.
 
The government said the yield for the five-year bond was set at 4.62 per cent on Tuesday, showing slightly improved investor confidence since the 2014 issue, where the yield was 4.95 percent.
 
It said most of the buyers were global investors and not speculative traders looking for a quick profit.
 
Finance Minister Euclid Tsakalotos said the result was satisfactory, and added that Greece would proceed with further bond issues before the end of its bailout program in little over a year.
 
The country was locked out of bond markets in 2010, and has since been kept afloat by international rescue loans.
 

Stay up to date on all the latest World news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp