MARKETS

Greece to issue new 30-year bond

greece-to-issue-new-30-year-bond

Greece is proceeding to the issue of a new 30-year bond, probably on Wednesday, announcing on Tuesday that it has commissioned the services of five banks to that effect.

In a bid to boost the country’s cash reserves further, as the extended measures against the pandemic require additional funding, the Public Debt Management Agency announced in a bourse filing on Tuesday that it will issue new debt maturing in January 2052.

The statement added that “the transaction will be launched in the near future, subject to market conditions.”

The PDMA has therefore mandated four foreign lenders (BNP Paribas, Goldman Sachs Bank Europe SE, HSBC and JP Morgan) as well as National Bank of Greece as Joint Lead Managers for the issue.

The last time Greece issued a 30-year bond was before the outbreak of the previous financial crisis, i.e. in 2008.

So far this year Greece has already issued a new 10-year bond, through which it drew 3.5 billion euros.