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Markets

Greece launches new 10-year bond issue

  • Barclays, Citi, Deutsche Bank, Morgan Stanley, Nomura and Eurobank were appointed to jointly lead manage the issue.
27 Jan 2021

ATHENS: Greece opened books for a new 10-year bond issue on Wednesday, the country's second borrowing action this year.

Greece, which emerged from three international bailouts in 2018, has said it plans to borrow 8 to 12 billion euros this year to maintain a continuous presence in international debt markets.

Guidance for the bond maturing on June 18, 2031, was set at mid-swaps plus 110 basis points, according to an announcement by the country's debt agency.

Barclays, Citi, Deutsche Bank, Morgan Stanley, Nomura and Eurobank were appointed to jointly lead manage the issue.

Earlier this month Greece raised 2 billion euros ($2.43 billion) by reopening a 30-year bond through a private placement with two Greek banks.

Greece last sold 10-year paper in September 2020. The yield was 0.696% on Wednesday.

The country aims to reduce its debt-to-GDP ratio - estimated at 208.9% in 2020 - and preserve a cash buffer from unused bailout loans and money raised from markets.