Greece is proceeding with the issuance of a 30-year bond, expiring in January 2052. Already, a mandate has been given to BNP Paribas, Goldman Sachs Bank Europe SE, HSBC, J.P. Morgan and National Bank to undertake the issue, which will take place in the near future and depending on market conditions.
Greece seeks to take advantage of the positive market climate, following the ECB‘s announcements that it is accelerating bond purchases.
After a 10-year deep crisis and exit from the markets, the Greece returns, with a rating of Ba3 (Moody’s – stable outlook), BB- (S&P – stable outlook), BB (Fitch – stable outlook), BBL (DBRS – stable outlook ).
However, it lacks a 30-year benchmark bond, as they are currently trading with a maximum duration of 25 years, which is currently trading below 1.37%.
The new 30-year benchmark bond will be issued in intangible registered form with an expiration date of January 2052. The issue (consortium transaction) will begin in the near future, subject to market conditions.
That is, immediately, unless something happens that will change market conditions.
National Vaccination Committee: Vaccination with AstraZeneca continues
Information states that the offer book can be opened even tomorrow. It is noted that Greece plans to borrow of a total amount of 10-12 billion Euros from the international bond markets until the end of 2021.
It is reminded that this will be the 5th time that Greece goes to the markets again after the outbreak of the coronavirus pandemic.
Almost two months ago, it borrowed with a 10-year bond of 3.5 billion euros and the lowest interest rate in the history of the country, just 0.85%, the lowest interest rate of all time, regardless of the duration of the bond.
Ask me anything
Explore related questions