Saturday October 25, 2014 Search
Weather | Athens
19o C
12o 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)  
TAIPED waits for green light from Eurostat
Trade deficit shrinks on big drop in imports
SMEs unable to claim subsidies
Taxes kept growing in second quarter
Athens, Nicosia satisfied by EU leaders´ stance toward Ankara
A reference in Friday’s European Council conclusions calling on Turkey to respect Cyprus’s sovereign rights left Athens and Nicosia content with the outcome of the European Union leaders’ su...
Suspended policeman chief suspect in cousin’s murder
A 27-year-old police officer who has been suspended from duty since 2013 for extortion, is being treated as the chief suspect in a murder committed in a suburb of Piraeus on Thursday. Police...
Inside News
BASKETBALL
A win is a win is a win for Olympiakos
A bad Olympiakos defeated a worse Laboral Kutxa 63-57 to make it two out of two in the Euroleague on Friday. In a game where the two teams had an overall field goal rate of about one in thre...
SOCCER
Panathinaikos snatches point at Eindhoven
Panathinaikos offered its fans a glimpse of its glorious past in European competitions snatching a draw at PSV Eindhoven, on an otherwise bad night for Greek soccer in the Europa League, as ...
Inside Sports
COMMENTARY
Tension for tension’s sake?
It is evident that Turkish President Recep Tayyip Erdogan feeds off tension. He would barely have achieved as much as he has – and prevailed – if he had not been so keen to confront a series...
EDITORIAL
Testing ground
The Regional Authority of Attica is a good testing ground for politicians who appear to thrive on accusations to prove whether they can actually solve major problems of a practical nature. T...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. A win is a win is a win for Olympiakos
2. TAIPED waits for green light from Eurostat
3. Trade deficit shrinks on big drop in imports
4. SMEs unable to claim subsidies
5. Taxes kept growing in second quarter
6. Thessaloniki Port expects 2014 to be record year
more news
Today
This Week
1. Woman killed in tram accident in Floisvo, south of Athens
2. Clocks to go back 1 hour on Sunday
3. Venizelos slams Turkey for 'flagrant violation of international law' off Cyprus
4. ECB vies for third time lucky in European stress tests
5. Cyprus GDP upgrade seen as boosting bailout exit plans
6. ECB bank assessment to show 6-billion-euro capital gap, Citi says
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Greece’s closed society is central to its current malaise
3. Greece must stick to reforms, says Schaeuble
4. At least 11 banks to fail European stress tests, three in Greece, report says
5. Cyprus to block Turkey's EU talks after EEZ violation
6. Samaras’s crumbling Greek exit lacks backing from economists
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.