Reduced interest rate compared to initial estimates – Staikouras: Today’s issue of the 10-year bond was successful
The 10-year bond auction organized by ODDICH today, Tuesday, was completed with great demand. The consequence of the demand was the reduced interest rate (4.4%) compared to the initial estimates.
The Greek government is expected to raise between 3.5 and 4 billion euros, with the offers amounting to 21.9 billion euros. The finance minister spoke of a successful issue, not only in terms of demand, but also in terms of the quality of funds.
Underwriters were Barclays, Bofa Securities, Commerzbank, Goldman Sachs, JP Morgan and Société Générale, while the bond will mature on June 15, 2033.
Staikouras: Today’s issuance of the 10-year bond was successful
“Greece proceeded today to issue a 10-year bond, opening the curtain on the loan program for 2023,” Finance Minister Christos Staikouras said in a statement.
“As he points out, “the version was successful. In terms of demand, capital quality and borrowing costs, taking into account the volatility in the international environment.
The Government, and the Public Debt Management Organization, act with determination and foresight, taking into account the existing and future decisions of the European Central Bank in the exercise of monetary policy. We are building strong cash reserves, following a prudent fiscal policy and implementing reforms, so that we bravely support households and businesses for as long as necessary and strengthen, even more, the sustainable development of the Greek economy” concludes Mr. Staikouras.
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