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  • Government proceeds with seven-year bond issue

    ΤοΒΗΜΑ Team

    The government has announced its decision to proceed with a seven-year bond issue.

    The first foray into the markets this year, the seven-year issue is seen as an important first test of the waters, ahead of completion of the harsh fiscal adjustment programme.

    According to the announcement, the consortium of underwriters includes Barclays, BNB Paribas, Citi, J.P. Morgan, and Nomura.

    Sources say the government hopes to draw 3.5 billion euros from the issue. The cash injections will serve to build up a security cushion that the government is planning for after the end of the bailout memorandum, in August.

    The high yield of Greek bonds is expected to trigger a strong interest from investors, as financial media outlets have noted in advance.

    International