Friday October 31, 2014 Search
Weather | Athens
18o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Seven-year bond by November

 Gov’t plans for another debt issue to ensure cash flow regardless of whether loan tranches come through

By Sotiris Nikas

The government intends to go ahead with the issue of a new, seven-year bond as well as shorter-term papers that will allow Athens to enhance the Greek bond range and draw 3 to 4 billion euros by the end of the year.

A senior Finance Ministry official said on Wednesday in Paris that Greece is expected to tap the markets with seven-year bonds by the end of 2014, as conditions are good and the country has regained the confidence of investors.

Regarding the funding gap foreseen in the next 12 months, the same official noted that Athens is no longer worried as the problem was solved after Greece returned to the markets. He added that the first time the country tapped the market this year, in April, was the turning point regarding investors’ perceptions of the Greek economy.

The ministry has already drafted an action plan with a clear timetable, which starts next week with the reissuing of this year’s three- and five-year bonds to replace some of the three- and six-month treasury bills worth between 1 and 1.5 billion euros. This will allow Greek banks to purchase new Greek bonds and start getting active in the secondary bond market, thereby supporting Greek bonds.

In the next few weeks the state will proceed with a new issue of 18-month T-bills, as the Finance Ministry has identified strong interest among investors. This will be followed by the issue of a new seven-year bond, likely by mid-November. This issue will secure the state’s cash flow, even in the worst-case scenario of inconclusive negotiations with the country’s creditors this fall and the International Monetary Fund postponing the disbursement of a loan tranche.

With the issue of a seven-year bond added to the three- and five-year papers, Greece will have completed the range of short- and medium-term bonds in its market, so that the next step will be the issue of a new 10-year bond, though not within 2014.

Of course all this planning hinges on the condition there will be no deterioration in the country’s financial conditions, either through the negotiations with its creditors or negative developments in Europe.

ekathimerini.com , Wednesday September 3, 2014 (22:47)  
Germany’s 10-year bonds decline before euro-area inflation data
Cyprus’s Georgiades Bets on Economy for Irish-Style Bailout Exit
Power rates soared 60 pct in six years
NBG chairman sees risks to recovery
Man shot dead, woman injured in Vathis square attack
A 42-year-old man was shot dead and a woman was slightly injured after two unidentified men in a vehicle rode past a cafeteria in Vathis Square, central Athens, and opened fire in the early ...
A year after GD members shot dead, police have no leads
A year after two members of neofascist Golden Dawn were shot dead outside the party’s offices in Neo Iraklio, north of Athens, police sources admitted that they have no leads to the killers....
Inside News
BASKETBALL
Obradovic watches Greens thrash his Fenerbahce
The second homecoming of former Panathinaikos coach Zeljko Obradovic, now at Fenerbahce, was not as emotional as last year’s, but it was certainly was the night of an emphatic triumph for th...
SOCCER
Berg returns to add spice to Panathinaikos´s Cup win
The second round of games for the group stage of the Greek Cup produced plenty of interesting games and results in midweek, but it still lags the upset potential that the knock-out stages of...
Inside Sports
COMMENTARY
The judiciary’s responsibility
The reform efforts over the past few years have begun to bear fruit. Greece has improved its standing in the World Bank’s Doing Business rankings, rising 48 positions from 2010 to 61st place...
EDITORIAL
Findings raise eyebrows
An investigation into money transferred to foreign banks by civil servants since 2010, when Greece’s brutal debt crisis erupted, has come up with some striking findings. The checks, which we...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Germany’s 10-year bonds decline before euro-area inflation data
2. Cyprus’s Georgiades Bets on Economy for Irish-Style Bailout Exit
3. Man shot dead, woman injured in Vathis square attack
4. Obradovic watches Greens thrash his Fenerbahce
5. Berg returns to add spice to Panathinaikos´s Cup win
6. Power rates soared 60 pct in six years
more news
Today
This Week
1. Man shot dead, woman injured in Vathis square attack
2. Cyprus’s Georgiades Bets on Economy for Irish-Style Bailout Exit
3. Germany’s 10-year bonds decline before euro-area inflation data
4. Greek euro dilemma is back as minister predicts volatility
5. Students hijack university senate meeting
6. Clientelism belongs to the past, says Mitsotakis
Today
This Week
1. Austria’s creative bookkeeping beats Greece on secret debts
2. End of reason, end of humanity
3. Clean bill of health for Greek banks from stress tests
4. Samaras pledges action after flash floods in Athens
5. Eurobank, National Bank restructurings eliminate capital gap
6. Athens flood damage assessed, compensation payments to begin
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.