Greek Finance Minister Christos Staikouras said the simultaneous issuance of two bonds had been “very successful”, meeting very high demand.
“This double solicitation of the markets, in which the Greek state took 2.5 billion euros in total, took place despite the fact that the target of this year’s borrowing program was covered,” Staikouras said. in a press release.
“But this increased demand for Greek bonds, especially from a large segment of institutional investors, has provided the country with the opportunity to improve the liquidity of the yield curve by two additional points, attracting and at the same time, capital on particularly favorable terms. “
Greece received offers of € 19bn on Wednesday for the simultaneous reissue of a 5- and 30-year bond in a pound-building process, with the Greek state pulling € 2.5bn – 1 billion of the 30-year bond at 1.67% interest and 1.5 billion euros of the 5-year bond, at an interest rate close to zero.
This was the fifth time Greece has appealed to the markets since the start of 2021. The Greek state has raised around 11.5 billion euros in the markets, thus covering the target of the loan program that had been set for this. year. The specific target was set when the budget was presented and was based on data different from that created after the pandemic. At the time, the emergency plan for the aftermath of the pandemic crisis was estimated at 7.5 billion euros, while it now exceeds 15 billion euros.
The government had instructed Alpha Bank, Barclays, Citi, Commerzbank and Morgan Stanley to reissue the bond due February 12, 2026 with a 0% coupon and one bond due January 24, 2052 with a 1.875% coupon.