
The book of offers for the reissue of the 7-year bond was closed, with the Greek government raising 1.5 billion euros, while the offers finally reached 4.8 billion euros. The initial guidance for the interest rate was in mid swaps +115 basis points, in the area of 2.57%, for the final interest rate to then fall 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 into the markets comes after the upgrading of Greece’s debt by one tier, to BB + with stable outlook from BB with positive outlook, by Standard & Poor’s, which is now only one step away from the investment tier.
The reissue of the 7-year bond (with contractors BNP Paribas, BofA Securities, Citi, Deutsche Bank, Goldman Sachs Bank Europe SE and J.P. 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, the Public Debt Management Agency (P.D.M.A.) is expected to issue new bonds amounting to, at least, 12 billion euros, compared to 14 billion euros in 2021.


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