He opened the book of offers for the issuance of a new ten-year bond, which is the first exit of the Greek State for 2022 in the markets, with the aim of raising about 3 billion euros.
The initial interest rate on the new Greek bond stood at 145 basis points plus the mid swap (44 points), ie 1.89%.
For this year, ODDIH is expected to issue new bonds amounting to 12 billion euros, at least, compared to 14 billion euros in 2021. Although the country faces limited needs to service public debt in 2022 and the State has cash available about 35 billion euros, ODDIH seeks with the new bond issues to demonstrate the ability of the Greek State to borrow from the markets on competitive terms.
Economic analysts estimate that the Greek State will seek to raise as much as possible in the first quarter of the year, until the end of the “pandemic” bond purchase program implemented by the European Central Bank. For after March, the ECB has pledged to continue to flexibly buy Greek bonds in order to help the country and avoid a “shock” in the markets.
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