Monday May 25, 2015 Search
Weather | Athens
14o C
09o 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)  
Greece calls on creditors to compromise as IMF payment nears
VAT adjustment is the way forward
Tender for Thriasio freight center to restart next month
Banks fear NPL sum will reach 100 bln euros
ND´s Bakoyannis fears capital controls over long weekend
New Democracy MP Dora Bakoyannis fears that if Greece does not reach an agreement with lenders this week it will be forced to implement capital controls over the weekend. Speaking on Skai TV...
Varoufakis slams media over Riga Eurogroup reporting
Greek Finance Minister Yanis Varoufakis on Sunday admitted he had recorded a euro zone finance ministers meeting and criticised media for reporting «lies and innuendos» on what transpired at...
Inside News
SOCCER
Berg brace gives Panathinaikos four-point lead
Panathinaikos beat Atromitos on Sunday and took advantage of the goalless draw between PAOK and Asteras Tripolis to open a four-point gap from PAOK at the top of the Super League play-off mi...
SOCCER
Reds add Cup to league trophy with 3-1 win over Xanthi
Olympiakos completed a league-and-cup double on Saturday by beating Xanthi 3-1 in the Greek Cup final at the Olympic Stadium of Athens, that was more balanced than the final score suggests. ...
Inside Sports
COMMENTARY
No more ´quick and dirty´ fixes for Greece
International Monetary Fund Managing Director Christine Lagarde correctly said last week that the protracted negotiations between Greece and its official creditors required «a comprehensive ...
COMMENTARY
The good news and the bad
The good news is that a Greek default will most likely be prevented, a deal will be reached with the country’s creditors and an extension will be granted for negotiations over the next bailo...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. ND´s Bakoyannis fears capital controls over long weekend
2. Greece calls on creditors to compromise as IMF payment nears
3. Berg brace gives Panathinaikos four-point lead
4. VAT adjustment is the way forward
5. Tender for Thriasio freight center to restart next month
6. Varoufakis slams media over Riga Eurogroup reporting
more news
Today
This Week
1. Greece calls on creditors to compromise as IMF payment nears
2. No more 'quick and dirty' fixes for Greece
3. ND's Bakoyannis fears capital controls over long weekend
4. Greeks back government's red lines, but want to keep euro
5. Greece does not have the money to make June IMF repayment, warns interior minister
6. The good news and the bad
Today
This Week
1. The Greek-German breakthrough that didn’t come
2. Conspiracy madness
3. Greece came close to not paying IMF
4. National self-awareness put to the test
5. Albanian demarche raises concerns about possible territorial claims over Greece
6. Greek endgame nears for Tsipras as bank collateral hits buffers
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.