Global investors appear to be interested in the latest series of corporate bonds, with the prices currently negotiated exceeding original price. The investor interest has been attributed to the recent five-year treasury bill issue that was well-received.
With Greece expected to issue new bonds in the near future, foreign investors have bought state and corporate bonds worth 5.1 billion euros since the start of 2013, with about 2.5 billion being invested in corporate bonds in the past few months. With more Greek companies planning to issue bonds, this is expected to increase to 3.5 billion euros.
Greek businesses have been issuing corporate bonds in the Global Exchange Market in Ireland or the Euro MTF market in Luxemburg. The ten companies currently negotiating in the Luxemburg market includes OTE, Titan, Piraeus Bank, Alpha Bank, National Bank, Eurobank, Intralot, ELPE, Frigoglass and Motor Oil.
These companies are also considering the possibility of drawing up to 5 million euros from the Athens Stock Exchange, after the new corporate bond market was launched in the Alternative Market (ENA).
