Greece returns to capital markets as bond sale is officially announced
The Greek finance ministry announced the country’s return to capital markets on April 9 2014, for the first time in almost four years.
Greece has mandated international banks (Bank of America, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan and Morgan Stanley) for an upcoming five-year bond issue denominated in euro and under UK law. The country will return to international markets with a five-year note on April 10, seeking to tap investors for 2.5 billion euro. Book building will begin Thursday, the finance ministry confirmed. The yield is expected to reach between five and 5.25 per cent.
On April 9, the yield on Greece’s 10-year bonds fell below six per cent for the first time since 2010.
For the full story, please click here.
(Photo: Miroslav Sárička/sxc.hu)