Greece is preparing its first bond offering since the European Union agreed to provide financial assistance to help the troubled nation deal with its staggering debt load. The seven-year bonds will carry a six percent yield and are expected to be sold about 310 basis points more than the benchmark, mid-swap rate.
Ã¢â‚¬Å“This looks a lot more confident than their other recent issues, which came with a decent discount,Ã¢â‚¬Â said Toby Nangle, director of asset allocation at Barings Investment Services Ltd. in London. Ã¢â‚¬Å“The marketÃ¢â‚¬â„¢s been expecting 5 billion euros, so if they come with less than that, itÃ¢â‚¬â„¢s probably a signal the demand wasnÃ¢â‚¬â„¢t there.Ã¢â‚¬Â
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