BUSINESS

After rating upgrade, Greece announces 15-year bond issue

TAGS: Markets, Economy

Greece on Monday announced that it had appointed banks for a new 15-year bond issue after its credit rating was upgraded by one of the three main rating agencies. 

It will be the first time Greece is tapping with a markets whose expiry date is after 2032, the year in which long-term measures for the relief of Greece's debt burden are due to expire.  

Meanwhile the Greek 10-year government bond yield declined to its lowest since October 31, when it hit a record low, as investors rushed to buy Greek debt in the aftermath of Fitch Ratings upgrading Greece's credit rating on Friday to 'BB' from 'BB-'.

Greece's public debt agency (PDMA) had said last week that the country would sell 375 million euros of six-month treasury bills on January 29 to refinance maturing debt.

[Kathimerini/Reuters] 

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