The interest rate of the bond was set at 4.31% compared to 4.25% which was the coupon of the bond – With this issue approximately 90% of this year’s loan program of the Greek State is covered.
The reissue of the 10-year bond was more than five times oversubscribed.
The offers reached 1.7 billion euros against the 300 million euros expected to be raised by the Ministry of Finance.
The bond’s interest rate (yield) stood at 4.31% versus 4.25% which was the bond’s coupon.
It is recalled that yesterday in the secondary market the ten-year bond was traded with a yield of 4.4%.
With this issue, approximately 90% of this year’s loan program of the Greek State is covered.
Since the beginning of the year the State (including today’s auction) has drawn 6.3 billion euros from the markets, against 7 billion euros which is the target for this year.
The specific auction carried out by the Public Debt Management Organization was the first to be carried out in the framework of the quarterly auction program announced a few days ago, with the main objective of improving the functioning of the secondary market of government securities.
The move comes shortly before Standard & Poor’s reviews the creditworthiness of the Greek economy on Friday, April 21.
The purpose of the reissuance is to satisfy investment demand and at the same time to facilitate the functioning of the secondary bond market.
Source: Skai
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