Friday September 19, 2014 Search
Weather | Athens
27o C
19o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Five-year bonds likely to be issued as early as next week

 Moody’s is expected to upgrade Greece’s credit rating on Friday

By Sotiris Nikas

Athens is set to officially announce its return to the money markets with the issuance of a five-year bond for an estimated 2-3 billion euros. Sources also suggest that the announcement could come after a likely credit rating upgrade by Moody’s over the course of Friday.

Though there has been no confirmation from government officials, market professionals familiar with the issue have told Kathimerini that the pre-marketing process will likely take place on Monday with book building starting the following day in a bid to make the most of optimistic sentiment regarding Greece after the successful conclusion of talks with the country’s creditors and the vote of confidence by the Eurogroup and Ecofin council meetings earlier this week.

Should the issuance go ahead, it will be the first time Greece has tapped the financial markets since 2010, when it entered the bailout process. The yield of the benchmark 10-year Greek bond fell to a four-year low on Thursday at 6 percent, which, according to the Financial Times, paves the way for a successful return to market borrowing.

Reuters reported on Thursday that the banks to spearhead Greece’s efforts to return to normal borrowing will be Deutsche Bank, Bank of America Merrill Lynch, JP Morgan and Goldman Sachs, although this may change. “This is the most important deal Greece will do,” the same report quoted an unnamed banker as saying.

Moody’s is expected to issue its scheduled review of Greece’s credit rating, which is almost certain to signal an upgrade, after keeping it at C – i.e. junk status – since March 2012, though Standard & Poor’s and Fitch have made upgrades since.

Moody’s said in a report on Thursday that the ratification of a multi-bill of reform measures on Sunday constituted a “credit positive” for the country. It did, however, warn of political risk following the further shrinking of the government majority.

ekathimerini.com , Thursday April 3, 2014 (23:36)  
Local lenders draw 5 bln for loans to SMEs
Tourism drives jobless rate down
Hardouvelis asks for some room to breathe
Athens could miss out on last bailout installment
Police, protesters clash during rally to mark Fyssas killing
Greek police fired teargas at protesters who hurled petrol bombs and stones in Athens on Thursday during a rally marking one year since the killing of an anti-fascism rapper by a far-right G...
Prescription limit to rein in EOPYY spending
In a bid to rein in its expenses, the country’s largest healthcare provider, EOPYY, is to announce a limit in the coming days on the number and type of diagnostic tests that doctors affiliat...
Inside News
SOCCER
Triumph for PAOK, historic result for Asteras in Europa League
Greek teams produced a patchy record on the opening night of the Europa League group stage on Thursday, as PAOK thrashed Dynamo Minsk, Asteras Tripolis snatched a draw at Besiktas and Panath...
SOCCER
Financial crisis forces Greek second division postponement
Greece's second soccer division Football League announced on Wednesday the postponement of the start of the season due to financial difficulties being faced by most clubs. "The board of dire...
Inside Sports
COMMENTARY
High stakes after the Scottish vote
We will soon know whether the Scots voted for their country’s independence or whether they will remain citizens of the “United Kingdom of Great Britain and Northern Ireland.” What was alread...
COMMENTARY
Greek society’s and lenders’ fatigue
The issue of early elections continues to dog the coalition government despite all the official denials. That the administration is losing its cool is obvious. The political discourse has no...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Triumph for PAOK, historic result for Asteras in Europa League
2. Local lenders draw 5 bln for loans to SMEs
3. Tourism drives jobless rate down
4. Hardouvelis asks for some room to breathe
5. Athens could miss out on last bailout installment
6. Police, protesters clash during rally to mark Fyssas killing
more news
Today
This Week
1. SYRIZA ahead of ND, new opinion poll shows
2. Extradited Greek couple to face magistrate in Athens
3. National Bank of Greece said to pick advisers for Turkish sale
4. Man's charred remains retrieved from vehicle following accident
5. Unemployment at 26.6 percent in second quarter of 2014
6. Bank of Cyprus sells UK loan portfolio
Today
This Week
1. Greece on standby
2. Greece at bottom of social justice scale among EU28
3. Central Athens traffic restrictions back in force on Monday
4. Lost in the fog
5. Democracy under Pressure | Live Streaming
6. SYRIZA spokesman suggests gov't sought to stop NERIT airing Tsipras speech live
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.