BUSINESS

Greece preparing to issue 2-bln-euro bond but timing not decided

By Nikos Chrysoloras

The Greek government, approaching the end of a second international bailout that has kept it afloat since 2010, plans a return to markets by selling 2 billion euros of bonds, three officials said.

The decision has been made on the 2 billion-euro offering and only the issue of timing remains to be resolved, one Greek official said on condition of anonymity because the plans haven’t been made public. Another Greek official said this doesn’t exclude the possibility of further sales in the following months.

The timing of the bond offering will depend on market conditions and will definitely come after the government has met all conditions for the release of 6.3 billion euros of bailout aid, which euro-area finance ministers endorsed in talks in Athens today.

The Wall Street Journal reported earlier that Greece wants to issue a three-to-five-year bond by June and plans to raise as much as 5 billion euros on financial markets by year-end.

[Bloomberg]

Online