Greece Issues First Bonds Since 2014

Greece has fired the starting gun on its first issue of new bonds since 2014, testing whether investors will back its recovery from a debt crisis that forced it to seek multiple international bailouts.

The sub-investment grade rated country is seeking to sell five-year debt yielding about 4.75 percent, according to a person familiar with the transaction who is not authorized to speak publicly and asked not to be named. A second person also speaking on condition of anonymity said investors had placed orders worth 7 billion euros before books closed ahead of final pricing on Tuesday.

The guidance “looks very attractive,” said Lutz Roehmeyer, who helps oversee 12 billion euros at Landesbank Berlin Investment GmbH including Greek debt. “Expectations were at 4.5%, so the chance of success is very high.”

Bloomberg

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam