In the 1.5 billion euros The amount raised by the Greek State from the reissue of the 7-year bond is finally placed, with the offers exceeding the 4.8 billion euros. The initial guidance for the interest rate was in mid swaps +115 basis points, in the area of 2.57%, to then fall and the final interest rate to 110 basis points, in the area of 2.51%.
It is noted that the title expires in April 2027 and was issued with a 2% coupon and a yield of 2.013%.
Greece’s new entry in the markets comes after the upgrade of Greece’s debt by one tier, to BB + with stable outlook from BB with positive outlook, by Standard & Poor’s, which is now one step away step only from the investment tier, something that the Ministry of Finance wanted to take advantage of.
The reissue of the 7-year bond (with contractors BNP Paribas, BofA Securities, Citi, Deutsche Bank, Goldman Sachs Bank Europe SE and JP Morgan) is the second exit made by the State in the markets since the beginning of the year. It was preceded by the issuance of a 10-year bond with which the State raised 3 billion euros with an interest rate of 1.83%, while the offers it had collected from investors had exceeded 15 billion euros.
For this year, ODDIH is expected to proceed with the publication new bonds amounting to 12 billion eurosat least, against 14 billion euros in 2021.
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