Saturday December 20, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece to reopen three- and five-year bonds

Greece plans to reopen its recent three- and five-year bond issues in the next two weeks, to top them up by as much as 1.5 billion euros, accepting treasury bills as payment instead of cash, a senior government source told Reuters on Monday.

The debt exchange is aimed at improving the functioning of the secondary bond market, boosting liquidity and tightening spreads.

By retiring up to 1.5 billion euros of outstanding treasury bills, Athens will also have the margin to reissue the same amount in new 12- or 18-month T-bills.

Its outstanding stock consists of three- and six-month treasury bills.

“There is a plan to reopen these issues in the next couple of weeks. Payment will be in outstanding T-bills instead of cash,” the government official said on Monday on condition of anonymity.

Athens returned to international bond markets this year for the first time since it was forced to request a first international bailout in 2010, with a five-year bond issue in April and a subsequent three-year issue in July, raising a combined 4.5 billion euros from foreign investors.

The country has enjoyed a revival in investor sentiment in recent months and seen bond yields fall along with those of other countries in the eurozone periphery.

Athens has a stock of about 15 billion euros of outstanding treasury bills and refinances them on a monthly basis.

“The move to reopen the recent bond issues is also aimed at giving Greek banks a more active role in the secondary market so they can play their part as primary dealers,” the official said.

Greece’s three-year bond issue in July raised 1.5 billion euros, less than Athens expected, as worries about the health of a parent company of Portugal’s largest listed bank hit demand for riskier eurozone debt.

Investor sentiment has picked up since then.

After nearly crashing out of the eurozone in 2012, the country expects to return to economic growth this year following a six-year recession that has shrunk its economy by a quarter.

[Reuters]

ekathimerini.com , Monday August 25, 2014 (18:51)  
Workers rush to get early retirement
Piraeus Containter Terminal goes from strength to strength
Moscovici: Creditor inspections to become less frequent and ‘lighter’
Property capital gains tax halt
Tsipras admits there could be hard days ahead
SYRIZA leader Alexis Tsipras said on Friday that he is determined to implement his party’s economic program if it comes to power but admitted that it would experience a challenging period. “...
Public medical centers keeping up despite shortages
Despite having just 1,050 doctors, medical centers belonging to Greece’s public health system (PEDY) saw more than 200,000 regular and emergency patients, made over 3,500 house calls and iss...
Inside News
BASKETBALL
Explosive Barca unfazed by Panathinaikos, bomb scare
Panathinaikos lost 80-67 at home to Barcelona on Friday in a rather meaningless game at the end of the first group stage of the Euroleague, but the encounter will be remembered for the bomb ...
SOCCER
Abidal cuts short playing career at Olympiakos
Former France and Barcelona defender Eric Abidal announced his retirement from football on Friday, a day before his last match. Abidal said he will finish after playing for Olympiakos agains...
Inside Sports
COMMENTARY
New weapons of diplomacy
Hollywood screenwriters couldn’t make it up: That Sony, one of the world’s biggest film producers, would be forced to pull a comedy about the assassination of North Korea’s dictator after a ...
EDITORIAL
Oblivious to change
The world around us is undergoing many important changes while we sit around stewing in our own juices. US President Barack Obama is actually talking with Cuba’s Raul Castro, for example, bu...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Explosive Barca unfazed by Panathinaikos, bomb scare
2. Tsipras admits there could be hard days ahead
3. Public medical centers keeping up despite shortages
4. Workers rush to get early retirement
5. Piraeus Containter Terminal goes from strength to strength
6. Moscovici: Creditor inspections to become less frequent and ‘lighter’
more news
Today
This Week
1. Ship with 200 migrants off Pylos towed to Italy after passengers refuse to stop in Greece
2. Independent Greeks MP Haikalis claims attempted bribery for presidential vote
3. Greek PM Samaras confronts peril putting his Greek transformation to vote
4. Independent Greeks leader backs MP's bribery claims, threatens to release video [Update]
5. Gov't spokeswoman says bribery claims 'badly-played charade,' heralds legal action if evidence not produced
6. Former premier Mitsotakis to meet President Papoulias to discuss political upheaval
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. Europe's drama in Greece needs final act to avoid tragedy
6. High stakes
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.