Thursday October 2, 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)  
Draghi says ECB will purchase assets for at least two years
Draghi says ECB will purchase assets for at least two years
Draghi says ready to do more to fight low inflation
ECB holds rates, shifting focus to new purchase plans
Marble door discovered in Amphipoli reinforces theory of ancient Macedonian tomb
Pieces of a broken, two-piece, Thasian marble door discovered at the excavation site on Kasta Hill on Thursday were expected to reinforce the belief that the tomb was erected during the anci...
Six face prosecutor for bank robberies, terrorist activity
Six people detained in Athens and Thessaloniki on Wednesday in connection to bank robberies and possible terrorist activity faced a prosecutor on Thursday. The suspects, four Greek men, aged...
Inside News
SOCCER
Rosenberg confident after win over Olympiakos
Malmoe captain Markus Rosenberg scored twice in the Swedes' 2-0 win over Olympiakos on Wednesday and illustrated his confidence in the team after the game. Rosenberg capitalized on slack def...
SOCCER
Rosenberg punishes Olympiakos´s errors at Malmoe
A disappointing Olympiakos got the worst possible result from its clash with Malmoe in Sweden for the Champions League, going down 2-0 on Wednesday due to its own defensive errors and attack...
Inside Sports
COMMENTARY
There´s money, still
The decision reached by Prime Minister Antonis Samaras and his deputy, Evangelos Venizelos, to seek a vote of confidence in Parliament on October 6, is a final attempt to restore order in th...
EDITORIAL
Confidence and corrections
The government must secure a vote of confidence in Parliament. Any other development would see the country enter very turbulent waters. Prime Minister Antonis Samaras and his cabinet must ag...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Draghi says ECB will purchase assets for at least two years
2. Draghi says ECB will purchase assets for at least two years
3. Draghi says ready to do more to fight low inflation
4. Marble door discovered in Amphipoli reinforces theory of ancient Macedonian tomb
5. Rosenberg confident after win over Olympiakos
6. ECB holds rates, shifting focus to new purchase plans
more news
Today
This Week
1. Doctors, medical employees strike over staff shortages, wages
2. Court to hear Kasidiriaris-Kanelli case
3. Air travel to run smoothly after air traffic controllers' weekend strike deemed illegal
4. European stocks decline as investors await ECB policy meeting
5. Pensioners stage rally in central Athens
6. Moscovici in charge of budgets seen prompting EU deficits debate
Today
This Week
1. Greece may opt for unusual president to avoid snap polls, Venizelos says
2. Woman allegedly buried alive by accident in northern Greece
3. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
4. Should you bet with Kissinger on where the world is heading?
5. Cypriots divided by 1974 war seek Shariah hub
6. The shocking thought of euro-dollar parity
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.