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.”
CAC Shows Strong Gains as Bank Shares Jump
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Craig Erlam
Latest posts by Craig Erlam (see all)
- All eyes on OPEC - 06/22/2018
- GBP rallies on hawkish BoE - 06/21/2018
- Will the BoE lay the groundwork for August hike? - 06/20/2018