Greece kicks off fresh bond issue

The Greek government begun the process for a second bond issue on July 9, the second since being bailed out by the EU and IMF four years ago.

The country’s finance ministry issued an announcement saying it has ordered international banks to begin procedures for the issue of a three year bond in euro under English law. “The transaction is expected to be launched and priced in the near future, subject to market conditions,” the statement said.

Greece is set to raise a minimum of 500 million euro and a maximum of three billion through a three year bond that will yield between 3.25 per cent and 3.625 per cent.

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(Photo: Miroslav Sárička)