Greek State to Auction 26W T-bills Next Wed.
The Greek state aims to raise 500 million euros, according to the Public Debt Management Agency (PDMA)
The Greek state aims to raise 500 million euros, according to the Public Debt Management Agency (PDMA)
Amount sought is 625 million euros
Athens reportedly aims to take advantage of the country's recently restored investment grade rating
Submitted bids exceeded one billion euros
Τhe first such debt product in three years
The election was the latest hurdle for the investment tier, the article noted
The purpose of the reissuance is to satisfy investment demand and to operate the secondary bond market
The bond features a 4.250-percent coupon, and priced at 99.782, with the yield easing to 4.279 percent, according to book-running sources
Increased borrowing costs to 1.79%
Fiscal progress and investment grade are the targets
The requested amount was oversubscribed by 1.72 times
The final yield was set at 4.40 percent, and the interest rate at 4.40 percent annual
The ECB kept the interest rate unchanged at -0.5% and the key refinancing rate at 0%
Greece received a more-or-less early “Christmas present” on Thursday, as the European Central Bank (ECB) sent a "strong signal" by explicitly announcing that it could reinvest proceeds from its PEPP bond-buying scheme in Greek government bonds if the country needs support
Debt interest expense of the Central Administration is close to 3.8% of GDP - What now with bond issues and the cost of service
The settlement date is set for Friday, October 1, 2021 (T + 2)
Faster NPEs offer opportunities for investors
Wednesday's offers raise the debt sold by Greece this year to roughly 14 billion euros
The cash of the Greek State amounts to 35 billion euros and is estimated to increase to 37 billion euros in the next few days
ECB President Christine Lagarde said the euro-zone’s central bank will continue its debt-buyback scheme – at least until September
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