The Minister of Finance, Christos Staikouras, made a statement on the issuance of the 10-year bond and the offers.
Mr. Staikouras stressed that our country has 3 billion euros, with an interest rate of about 1.8%.
The statement:
“Greece today proceeded with the issuance of a 10-year bond, opening the curtain of the loan program for 2022. An issue that, once again, was crowned with success, as it gathered high demand and quality of funds. Our country raised 3 billion euros, with an interest rate of about 1.8%. Borrowing costs are considered very satisfactory, taking into account the current, international situation. A situation in which government bond yields are rising internationally due to the high uncertainty caused by the ongoing health crisis, rising inflation and the impending turn of central banks towards a more restrictive monetary policy.
Characteristic of the upward trend in government bond yields is that German bonds are trading, for the first time in three years, with a positive return. However, despite this difficult situation, Greece borrowed today at a cost of less than half compared to the corresponding issue of March 2019, when the interest rate was set at 3.9%. “While the interest rate spread, the spread, of the Greek bond against the German one has shrunk significantly, both in relation to the pre-pandemic levels and the levels of the beginning of 2019.”
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